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: What changes have been made to the RRSP and
RRIF provisions in respect of the 1999 Department of Finance Budget?
Position: None
Reasons: The Department of Finance has not released any amendments to the RRSP or RRIF provisions in respect of the 1999 Budget.
XXXXXXXXXX 990925
M. P. Sarazin
Attention: XXXXXXXXXX
May 31, 1999
Dear Sirs:
Re: RRSP/RRIF Proceeds on Death
This is in reply to your letter dated April 7, 1999, wherein you requested additional information regarding the proposed changes to the registered retirement savings plan (“RRSP”) and registered retirement income fund (“RRIF”) provisions of the Income Tax Act (the “Act”) in The Budget Plan 1999 tabled in the House of Commons on February 16, 1999 by the Honourable Paul Martin, P.C., M.P. Minister of Finance (the “1999 Budget”).
The Department of Finance has not released any proposed amendments to sections 146 and 146.3 of the Act in respect of 1999 Budget. Consequently, we are unable to provide you with any additional details on these proposed amendments at this time. We would suggest that any questions regarding the status of proposed legislation and the underlying reasons for any policy changes be addressed to the Department of Finance.
Yours truly,
Paul Lynch
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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