Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
qualified investments for an RRSP - 5-942501
Position TAKEN:
n/a
Reasons FOR POSITION TAKEN:
XXXXXXXXXX 5-942501
Attention: XXXXXXXXXX
October 11, 1994
Dear Sirs:
Re: Qualified Investments for an RRSP
This is in reply to your facsimiles of September 27, 1994 wherein you have requested our views on whether or not a particular mortgage is a qualified investment for an RRSP or a RRIF pursuant to subparagraph 146(1)(g)(iv) of the Income Tax Act and subsection 4900(4) of the Income Tax Regulations.
In our view it is a question of fact whether a participating mortgage will be a qualified investment for an RRSP or RRIF. It would be necessary to examine the specific agreements to determine whether or not the participating mortgage gives rise to an "equity" interest in the property.
We would be prepared to consider the matter further in the context of an advance income tax ruling.
We trust our comments will be of assistance to you.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
Policy and Legislation Branch
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