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.
Principal Issues: A typing error was made in the first sentence under the 4th bullet of our file 2007-026329.
Position: The sentence that reads:
"An SDA will not exist where one of the main purposes for the creation or existence of the right to receive the amount after the end of the year is to postpone tax payable under the Act by the taxpayer."
should read:
"An SDA will exist where one of the main purposes for the creation or existence of the right to receive the amount after the end of the year is to postpone tax payable under the Act by the taxpayer.
Reasons: To correct the error.
Windsor Tax Services Office HEADQUARTERS
Appeals Officer W.C. Harding
613 957-8953
Attention : Ms. Janet Ciurysek
2008-029767
U. S. Deferred Income Plan
This is further to our memorandum of January 24, 2008 (our file 2007-026329) provided in reply to your email of December 21, 2007, concerning the participation of a Canadian resident employee in a U.S Deferred Income Plan.
It has come to our attention that an error was made in the first sentence of the 4th bullet of our previous memorandum: The sentence:
"An SDA will not exist where one of the main purposes for the creation or existence of the right to receive the amount after the end of the year is to postpone tax payable under the Act by the taxpayer."
should read:
An SDA will exist where one of the main purposes for the creation or existence of the right to receive the amount after the end of the year is to postpone tax payable under the Act by the taxpayer."
Please contact Wayne Harding if you would like to discuss this memorandum.
Mary Pat Baldwin, CA
for Director
Financial Sector and Exempt Entities Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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