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.
Dear Sirs:
Re: Status Indians-Interest Earned on a Reserve
This is in reply to your letter of September 11, 1991 advising that the XXX You ask that we confirm the position in Interpretation Bulletin IT-62 that states, "Interest on a bank account is earned at the location at which the funds are on deposit, i.e. the specific bank branch address".
We confirm that the above statement in quotation marks means that interest earned by a status Indian on a bank account located on the XXX will not be taxable when it is paid or payable to such a status Indian, whether on or off the reserve. We caution, however, that the above position applies only to interest on a bank account and does not have reference to interest earned on other forms of investment issued by the branch office on the reserve. Questions relating to the taxation, in the hands of status Indians, of other forms of investment income or questions relating to other positions stated in IT-62 should be addressed to this Directorate.
We trust this is the information you require.
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© Her Majesty the Queen in Right of Canada, 1991
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, 1991
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