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.
August 10, 1988
XXXX M. Shea-DesRosiers (613) 957 8953
Dear Sirs:
Re: Advantage Conferred by a Registered Retirement Savings Plan ("RRSP")
This is in reply to your letter of July 29, 1988 wherein you ask us to confirm that a RRSP directed to invest in a mutual fund which offers all investors the possibility of winning additional units in a random draw would not be conferring an advantage upon annuitants for purposes of paragraph 146(2)(c.4) of the Income Tax Act.
The situation you describe in your letter appears to relate to a specific proposed transaction and can accordingly be dealt with upon disclosure of all relevant facts (including the submission for examination of all relevant documents) and then only in the form of a request for an advance ruling. As pointed out in Information Circular 70-6R, dated December 18, 1978, we do not offer opinions on proposed transactions. We are willing to issue a ruling if so requested in accordance with the above-mentioned circular.
Yours truly,
for Director Financial Industries Division Rulings Directorate
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© Her Majesty the Queen in Right of Canada, 1988
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© Sa Majesté la Reine du Chef du Canada, 1988
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