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:
Request that SPDRs be allowed as qualified investments for RRSPs
Position:
Finance has announced that it will change the law to ensure they are qualified investments.
Reasons:
Finance release 98-129
March 8, 1999
XXXXXXXXXX
Dear XXXXXXXXXX:
The Honourable Herb Dhaliwal, Minister of National Revenue, has asked me to reply to your letter addressed to the Honourable Paul Martin, Minister of Finance, concerning the status of Standard and Poor’s Depositary Receipts (SPDRs) as qualified investments for Registered Retirement Savings Plans. Mr. Martin forwarded a copy of your letter to Mr. Dhaliwal on January 20, 1999.
I am pleased to advise that the Minister of Finance has recently proposed an amendment to the Income Tax Regulations to ensure SPDRs, acquired after 1993, will be qualified investments for registered plans. I have enclosed a copy of the Department of Finance’s News Release 98-129 for your reference.
I trust this information is of assistance.
Yours sincerely,
Bill McCloskey
Assistant Deputy Minister
Policy and Legislation Branch
Attachment
Wayne Harding
957-9769
990355
February 18, 1999
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1999
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1999
Email this Content