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.
Dear Sirs:
This is in reply to your letter of September 11, 1989 regarding a registered retirement savings plan ("RRSP") acquired by an Indian.
You requested our views concerning the treatment of RRSP property received by an Indian whose only earnings are not taxable since they are derived from a reserve, and therefore his RRSP contributions are not tax assisted. Further, you indicated that the issuer of the RRSP is situated outside the relevant reserve.
In our view all amounts received by the taxpayer in question in a taxation year as a benefit under an RRSP will be required to be included in his income for the taxation year by reason of subsection 146(8) of the Income Tax Act. Further, such amounts will not be subject to reduction to the extent of the amount of his non tax assisted contributions to his RRSP. These issues are discussed generally in George James Carroll v MNR [[1984] C.T.C. 2612] DTC, 1984, p.1614.
We trust that our comments will be sufficient for your purposes.
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© His Majesty the King in Right of Canada, 1989
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© Sa Majesté le Roi du Chef du Canada, 1989
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