4 April 1991 Income Tax Severed Letter

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Text of Severed Letter

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.

24(1)                    5-910525
                                   M. Shea-DesRosiers
                                   (613) 957-8953

          19(1)

April 4, 1991

Dear Sirs:

Re: Registered Retirement Savings Plan ("RRSP") Benefits under Paragraph 146(2)(c.4) of the Income Tax Act

This is in response to your letter of January 7, 1991 addressed to the Saskatoon District Office which was referred to us for reply concerning the above-mentioned subject.

It is our opinion that the payment of an interest bonus into an RRSP does not contravene the provisions of paragraph 146(2)(c.4) of the Income Tax Act and therefore, no advantage will be considered to have been extended to the annuitant of the RRSP by such a payment.

The above comments are an expression of opinion only and are not binding on the Department as explained in paragraph 21 of Information Circular 70-6R2. We trust however that they are of assistance to you.

Yours truly,

for Director Financial Industries Division Rulings Directorate

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4 April 1991 Income Tax Severed Letter

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