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.
XXXXXXXXXX 963534
XXXXXXXXXX
Attention: XXXXXXXXXX
XXXXXXXXXX, 1996
Dear Sirs:
Re: XXXXXXXXXX
Advance Income Tax Ruling 962143, dated XXXXXXXXXX, 1996
This is in reply to your letter dated XXXXXXXXXX wherein you requested an extension of time to complete a proposed transaction described in the above-referenced Advance Income Tax Ruling (the "Ruling Letter").
Any reference herein to paragraphs are references to those contained in the Ruling Letter and any defined terms used in this letter have the meanings assigned to them in the Ruling Letter.
You have advised us that the registration of the New RPP as described in paragraph 9 of the Ruling Letter will take XXXXXXXXXX months. Under the provisions of subsection 147.1(3) of the Act, the New RPP will be deemed to be registered for the purposes of the Act, other than paragraph 60(j) and (j.2) and section 147.3, once it has been submitted for registration with Revenue Canada. Since the New RPP will not be deemed to be registered for purposes of the provisions permitting the tax-free transfer of funds between registered pension plans, XXXXXXXXXX described in paragraph 11 of the Ruling Letter will not be completed within the time limit set in the Ruling Letter. However, it is anticipated that all of the proposed transactions, except for the proposed transaction described in paragraph 11 of the Ruling Letter, will be completed within the time limit set within the Ruling Letter.
Provided that the proposed transaction described in paragraph 11 of the Ruling Letter is completed in the manner described therein by XXXXXXXXXX, we confirm that the ruling given in the Ruling Letter will continue to be binding on the Department in accordance with the practice outlined in Information Circular 70-6R2 dated September 28, 1990, and the Special Release thereto issued on September 30, 1992.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1995
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