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:
Valuation of strip coupons in rrif
Position:
Straight line not acceptable: q of fact
Reasons:
Routine, previously taken
5-970173
XXXXXXXXXX D. Duff
February 11, 1997
Dear XXXXXXXXXX:
Re: Valuation of Strip Coupons in a RRIF
This is in response to your letter of January 16, 1997, and further to your telephone conversation on February 11, 1997 with Brian Darling and David Duff of this Directorate regarding the fair market value of strip coupons held in a registered retirement income fund ("RRIF").
This will confirm that there is no change in the Department's position as stated in our letter of November 28, 1996 to your legal counsel. We cannot accept a valuation method for strip coupons that is not consistent with methods for similar investments.
We trust this is satisfactory.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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