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.
24(1) 5-901004
D.S. Delorey
(613) 957-3495
Attention: 19(1)
June 26, 1990
Dear Sirs:
Re: Article XIII
Canada-Trinidad and Tobago Income
Tax Agreement (the "Trinidad Convention")
This is in reply to your letter of May 28, 1990 concerning the meaning to be given to the terms "pension" and "annuity" for the purposes of Article XIII of the Trinidad Convention.
We note that your enquiry relates to a proposed transaction. As explained in paragraph 23 of Information Circular 70-6R, the Department does not provide written opinions on proposed transactions other than in reply to advance ruling requests submitted in the manner set out in that Circular. We offer however the following general comments.
For the purposes of interpreting reciprocal tax conventions, we generally take the view that the term "pension" refers to a payment that is to be made periodically for the life of (or the greater part of the life of; e.g., to age 90) the recipient, unless a definition in a particular treaty dictates otherwise.
With respect to the meaning to be given to the term "annuity" for the purposes of the various reciprocal tax treaties, we have not yet established a general position in this regard. The matter is presently under consideration.
We trust our comments are of assistance to you.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
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