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:
For purposes of article 17 of the Canada, UK Income Tax Convention, are amounts received from a UK personal pension scheme, pension or annuity income.
Position:
We previously stated that we have accepted a general position that plans will not be pension plans where only an employee has made contributions. We are not prepared to provide more specific comments except in response to an advance ruling request relating to a proposed plan. Furthermore, if the particular plan presently exists comments must be requested through the appropriate tax services office.
Reasons:
Because of the number of forms these plans can take we feel general comments are not appropriate.
972448
XXXXXXXXXX W.C. Harding
Attention: XXXXXXXXXX
November 13, 1997
Dear Sirs:
Re: Treatment of amounts received under
a United Kingdom Personal Pension Scheme (UK PPS)
This is in reply to your letter of September 6, 1997, in response to our letter to you of June 11, 1997 (our file 964142).
You have asked us to state whether amounts paid out of a UK PPS will be pension or annuity income for the purposes of Article 17 of the Canada, UK Income Tax Convention.
As stated in our previous letter, we have accepted the position that amounts received out of a UK PPS will not be superannuation or pension benefits where an employee is the only one who has contributed to a plan. We can also note that this factor will not preclude these plans from being retirement plans for the purposes of the Canada, UK Tax Convention. However, because these schemes may be acquired in a number of forms, we feel it would be inappropriate for us to provide any further general comments on the treatment of these plans under the Convention. In particular situations, our Directorate may be able to provide specific comments with respect to proposed plans if a request is made for an advance income tax ruling. On the other hand, if the plan presently exists, comments must be obtained through a request to your local Tax Services Office.
We trust these comments will be of assistance to you.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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