Subsection 146(1) - Definitions
Benefit
Paragraph (a)
Administrative Policy
13 August 2020 External T.I. 2019-0802891E5 F - Unclaimed RRSP Benefits
The executor of the estate of the deceased annuitant of an RRSP trust was unaware of the RRSP, did not notify the issuer of the RRSP, and settled...
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | s. 146(8) benefit paid to the taxpayer’s administrator was not includible in her income until the year she was identified and received the amount | 377 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(4) - Paragraph 146(4)(c) | tax imposed on RRSP under s. 146(4)(c) where RRSP issuer unaware of annuitant’s death | 187 |
Tax Topics - General Concepts - Payment & Receipt | constructive receipt of amount deducted on account of fees that were the recipient’s obligation | 280 |
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | fees incurred as a consequence of receiving unclaimed property (which was taxable under s. 146(8)) were non-deductible | 205 |
Tax Topics - Income Tax Act - Section 9 - Timing | receipt of income by an administrator was not income of the beneficial owner until the year she was identified | 350 |
4 July 2011 External T.I. 2010-0380071E5 F - Reer au décès
In the course of a general discussion respecting transfers out of a deceased annuitant’s RRSP, CRA stated:
As specified in paragraph (a) of the...
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1.1) | factors relevant to determining financial dependence | 124 |
Earned Income
Cases
Androwich v. The Queen, 90 DTC 6084, [1990] 1 CTC 78 (FCTD), briefly aff'd 93 DTC 5275 (FCA)
Interest on investment income does not fall within the definition of "earned income".
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Tax Topics - Statutory Interpretation - Interpretation Act - Subsection 15(1) | 30 |
Wood v. The Queen, 85 DTC 5552, [1985] 2 CTC 16, [1985] DTC 5406 (FCTD)
"Salary or wages" for the purpose of s. 146(1)(c) is defined in s. 248(1) to mean employment income net of the deductions allowed under section 8,...
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Salary or Wages | 47 |
See Also
Goldstein v. The Queen, 96 DTC 1029, [1995] 2 CTC 2036 (TCC)
The taxpayer's share of the losses of a limited partnership from operating a MURB rental property reduced his earned income pursuant to s....
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Tax Topics - General Concepts - Estoppel | 111 |
Administrative Policy
10 October 2014 APFF Roundtable, 2014-0538241C6 F - 75(2) and definition of "earned income" in 146(1)
When a rental property has been transferred to a trust, is rental income attributed to the transferor under s. 75(2) transformed into trust...
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Tax Topics - Income Tax Act - Section 40 - Subsection 40(3.6) | basis adjustment for denied capital loss (otherwise subject to s. 75(2) attribution) at trust level | 208 |
Tax Topics - Income Tax Act - Section 75 - Subsection 75(2) | character preservation of attributed income/basis adjustment for denied capital loss at trust level | 446 |
10 July 2013 Internal T.I. 2013-0478851I7 - Earned income for RRSP purposes
In finding that that income replacement payments to eligible individuals taking part in a rehabilitation or vocational assistance program, and...
2 January 2008 External T.I. 2007-0228241E5 F - Programme canadien d'options familles agricoles
Regarding payments made under the Canadian Farm Families Options Program (Options Program) to provide farmers and their families with immediate...
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Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(r) - Subparagraph 56(1)(r)(iv) | payments under the Canadian Farm Families Options Program to those without a farming source of income would be included under s. 56(1)(r)(iv) | 97 |
Tax Topics - Income Tax Act - Section 9 - Computation of Profit | payments under the Canadian Farm Families Options Program were business income to those with a farming source of income | 97 |
4 December 2007 Internal T.I. 2007-0255041I7 F - Employé de l'OTAN
Regarding whether income of a Canadian NATO employee that was exempted under s. 81(1)(a) would be added to earned income, the Directorate...
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Tax Topics - Income Tax Act - Section 81 - Subsection 81(1) - Paragraph 81(1)(a) | Canadian-resident NATO employee’s income not exempted if the employee was seconded by Canada to NATO, or a Canadian military member | 216 |
21 March 2003 External T.I. 2002-0161115 F - ALLOCATION DE FIN DE CARRIERE
In finding that amounts received by a physician as an end-of-career allowance should be excluded from earned income for taxation years in which...
3 August 1994 Internal T.I. 9419397 - EARNED INCOME AND EXEMPT INCOME FOR RRSP
An amount that is exempt from tax under s. 81 cannot be earned income.
24 February 1992 Memorandum (Tax Window, No. 13, p. 19, ¶1618)
A limited partner must deduct her share of the partnership's real estate rental losses in computing earned income.
19 February 1992 Memorandum (Tax Window, No. 16, p. 15, ¶1755)
Royalties included in income under s. 12(1)(g) generally are not earned income for purposes of s. 146(1)(c).
11 December 1990 T.I. (May 1990 Access Letter, ¶1231)
Earned income includes the taxpayer's share of rental income earned by a limited partnership.
Paragraph (a)
Subparagraph (a)(i)
See Also
Wyrstiuk v. The Queen, 2022 TCC 10 (Informal Procedure)
A lump sum of $165,000 received by the taxpayer in 2014 as a negotiated payment for the termination of his employment was found, in light of
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Tax Topics - Income Tax Act - Section 204.2 - Subsection 204.2(1.1) | failure to recognize that a termination payment was not earned income gave rise to RRSP over-contribution tax | 145 |
Premium
See Also
Duxbury v. The Queen, 2006 TCC 688 (Informal Procedure)
The taxpayer’s RRSP held a mortgage on the home of the taxpayer’s wife. O'Connor J held that mortgage payments made by the taxpayer to his...
Administrative Policy
3 April 2020 External T.I. 2019-0830101E5 - “Advantage”: promotional incentive exception
In indicating that it will consider a referral bonus paid into a registered plan to be a contribution to the plan, CRA stated:
While referral...
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Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Advantage - Paragraph (a) - Subparagraph (a)(v) | meaning of “broad class of persons in a normal commercial or investment context” and significance of incentive quantum | 502 |
S3-F10-C3 - Advantages – RRSPs, RESPs, RRIFs, RDSPs, FHSAs and TFSAs
Example 6, para. 3.12 [cash incentive to open RRSP or TFSA account]
No s. 207.01 advantage if a financial institution pays $100 in cash directly...
22 May 2009 Internal T.I. 2009-0312791I7 F - Transfert de biens entre un rentier et son REÉR
As a result of an RRSP-stripping strategy, the RRSP of an annuitant now holds shares of a cooperative (the “Co-op”) that have a nil fair...
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Tax Topics - Income Tax Act - Section 251 - Subsection 251(1) - Paragraph 251(1)(c) | an RRSP trust’s annuitant does not deal at arm’s length under s. 251(1)(c) with the RRSP | 222 |
23 April 2004 External T.I. 2004-0057231E5 - Premium Deductible under 146(5)
CRA noted that, subject to the specified exceptions:
,,, where an annuitant makes a payment to his or her RRSP trust as a contribution under the...
27 January 2004 External T.I. 2003-0047381E5 F
CCRA indicated that the interest paid to an RRSP on a mortgage would not constitute a premium as to the portion of that interest that exceeded a...
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Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(j) | mortgage interest rate must reflect normal commercial practice | 168 |
14 January 2002 External T.I. 2001-0116225 F - DOMMAGE SUBI PAR UN REER ET INDEMNITE
Regarding compensation paid by a broker to an RRSP to offset losses incurred by the trust as a result of the broker's management, CCRA indicated...
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | payment by broker of damages to RRSP was not a benefit to annuitant | 49 |
3 January 1997 External T.I. 9639365 - REIMBURSEMENT OF RRSP ADMINISTRATION FEES
The Department briefly stated:
[W]here the annuitant makes a payment to his or her RRSP trust as a contribution under the trust to be applied for...
3 October 1996 External T.I. 9628565 - RRSP ADMINISTRATION & INVESTMENT MANAGEMENT FEES
The payment of investment management fees of an RRSP by the annuitant will be treated (unlike the payment by the annuitant of administration fees)...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | 28 | |
Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(2) | 45 |
17 November 1994 External T.I. 9428725 - RRSP RECEIPTS FOR GIFTS
In finding that no contribution receipt should be issued for a gift made to an RRSP, the Department stated:
It is clear both from the definition...
13 June 1994 External T.I. 9412415 - PAYMENT OF RRSP/RESP INVESTMENT EXPENSE
When a taxpayer’s RRSP or RESP switched mutual fund investments, the investment dealer from whom the plan purchased the new mutual fund trust...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(5) | 45 |
Qualified Investment
Administrative Policy
1 June 1993 Income Tax Severed Letter 930642A F - Qualified Investment
"Where a RRSP acquires the beneficial ownership (evidenced by an instalment receipt) of shares listed on a prescribed stock exchange, we are of...
13 January 1993 T.I. 923286 (November 1993 Access Letter, p. 508, ¶C180-151)
The delisting of a share, the suspension of its trading or the bankruptcy of the corporation generally will not cause the share to cease to be a...
25 March 1992 T.I. (Tax Window, No. 18, p. 18, ¶1830)
RC will not consider bankers' acceptances to be qualified investments.
23 January 1992 T.I. (Tax Window, No. 16, p. 15, ¶1714)
Bankers' acceptances are not "bonds, debentures, notes or similar obligations" or other qualified investments.
91 C.R. - Q.40
Stripped Government of Canada bond interest coupons constitute similar obligations and, therefore, qualified investments.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(b) - Subparagraph 212(1)(b)(ii) | 11 |
13 June 1991 T.I. (Tax Window, No. 4, p. 29, ¶1304)
Foreign currency acquired by an RRSP in order to acquire foreign currency qualified investments, or on the disposition thereof, or as dividends or...
IT-320R2 "Registered Retirement Savings Plans - Qualified Investments"
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(5) | 0 |
Articles
Singer, "Mortgages with Equity Tickers May Qualify as RRSP Investment", Taxation of Executive Compensation and Retirement, May 1990, p. 283.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | 55 |
Singer, "RRSPs Can Invest in a Wide Range of Fixed Income Securities", Taxation of Executive Compensation and Retirement, May 1990, p. 286.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 204 - Qualified Investment - Paragraph (a) | 24 |
Singer, "RRSPs Can Invest in a Wide Range of Equities", Taxation of Executive Compensation and Retirement, April 1990, p. 259
Discussion of eligibility of various equity instruments including instalment receipts, unlisted shares, calls and puts.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(9) | 53 |
Refund of Premiums
Administrative Policy
11 July 2016 External T.I. 2015-0592681E5 F - RRIF Death of an annuitant
As part of a background discussion, CRA stated:
One of the conditions for an amount to be considered as a refund of premiums as defined in...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(1) - Annuitant | surviving spouse who has been predesignated can qualify as an RRIF annuitant even if he or she does not receive any annuity payments | 251 |
Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.2) | deduction for transfer to eligible recipient by surviving spouse | 287 |
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) | transfer by eligible recipient of payment out of RRIF | 275 |
26 September 2014 Internal T.I. 2014-0525241I7 - 60(l) - Financial Dependence Ward of the Crown
Individual A is an adult who is mentally and physically infirm and who became a permanent ward of Child and Family Services so that he did not...
28 February 2003 External T.I. 2002-0163425 F - LEGS PARTICULIER AVEC CHARGE ET REER
After noting the requirement under the refund of premiums definition for the amount to be paid out of the RRSP as a consequence of the death of...
30 May 1995 External T.I. 9505545 - POSSIBILITY OF TWO "SPOUSES"
If at the time of the annuitant's death, the annuitant is both married and living in a common law relationship as described in s. 252(4)(a),...
21 September 1994 External T.I. 9419215 - REFUND OF PREMIUMS TO SPOUSE
Discussion of circumstances in which an amount paid out of an unmatured RRSP is considered to be received by a surviving spouse "as a consequence...
10 March 1992 T.I. (Tax Window, No. 17, p. 7, ¶1795)
Where it can be established that a child is financially dependent on the deceased even though the child's income is over $5,000, amount paid to...
6 March 1990 T.I. (August 1990 Access Letter, ¶1385)
Where the deceased annuitant had both a married spouse and a common law spouse, then by virtue of s. 146(1.1) the financial institution may pay a...
6 February 1990 T.I. (July 1990 Access Letter, ¶1336)
A status Indian is subject to tax on the withdrawal of funds from an RRSP (even if he was not entitled to a deduction for the contribution)...
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Tax Topics - Income Tax Act - Section 212 - Subsection 212(13.1) - Paragraph 212(13.1)(a) | 46 |
ATR-37 (4 Nov. 88)
the deceased's will provided for the setting up of a spouse trust and for a right of encroachment on the capital in favour of the spouse. Where...
Paragraph (b)
Administrative Policy
7 February 2002 External T.I. 2002-0118535 F - REMBOURSEMENT DE PRIMES - ENFANT MINEUR
CCRA indicated that a minor child likely had been financially dependent on his deceased father for the purposes of "refund of premiums" definition...
Retirement Income
Administrative Policy
14 June 1995 External T.I. 9508295 - BENEFICIARY NAMED ON ANNUITY
Because under s.(b) of the definition of retirement income, an individual's spouse may only become an annuitant if the individual dies after...
Retirement Savings Plan
See Also
Amherst Crane Rentals Ltd. v. Perring, 2004 DTC 6584 (Ont. CA)
Under the laws of Ontario the spousal beneficiary of the deceased , who was the main beneficiary of two RRSPs, took priority over the respondent,...
In Re Guterres, 94 DTC 6603, [1994] 2 CTC 308 (FCTD)
A financial institution holding an RRSP was required to deliver up the RRSP funds when faced with a writ of execution delivered by a sheriff...
MNR v. Sinclair, 93 DTC 5239, [1993] 2 CTC 70 (FCTD)
The RRSP of the taxpayer was found to be subject to execution pursuant to s. 7(1) of the Executions Act (Manitoba). Although the RRSP property was...
Capital City Savings & Credit Union Ltd. v. 299474 Alberta Ltd., [1990] 3 WWR 763 (Alta. Q.B.)
An application to collapse an RRSP was granted. Master Quinn stated (p. 768):
"If the beneficiary can in fact succeed in collapsing the plan...
DeConinck v. Royal Trust Corp. of Canada, [1989] 1 CTC 179 (N.B.C.A.)
The relationship between a depositor and a trust company administering an RRSP is that of cestui que trust and trustee rather than debtor and...
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Tax Topics - Income Tax Act - Section 224 - Subsection 224(1) | no amount for which RRSP trustee is liable to pay until annuitant has requested payment | 96 |
National Bank of Canada v. Creative Touch Millworks Inc., [1989] 2 WWR 180 (Sask QB)
A request by the annuitant to de-register the plan did not convert the relationship between the annuiant and the trust company from...
Re Bliss (1984), 44 OR (2d) 129 (SCO)
An RRSP creates a trust rather than a debtor-creditor relationship notwithstanding that the plan may be collapsed at any time by the annuitant.
In re Gero, 79 DTC 5228, [1979] CTC 309 (FCTD)
The funds standing to the taxpayer's credit in a registered retirement savings plans were not sheltered from seizure by the Crown under a...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 224 - Subsection 224(1) | funds standing to the annuitant’s credit in his RRSP were seizable, the same as a demand bank deposit | 133 |
Administrative Policy
27 July 2004 External T.I. 2004-0077581E5 F - Transfert d'un REÉR à une fiducie
CRA provided the following overview:
Under the definition of retirement savings plan (RSP) in subsection 146(1), the following entities or persons...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(2) - Paragraph 146(2)(b.4) | qualifying RRSP cannot have a trust as the annuitant | 134 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(12) | transfer by an individual of his RRSP to a trust set up for his exclusive benefit would engage s. 146(12)(b) | 69 |
6 November 2014 External T.I. 2014-0528521E5 F - Payment of management fees by employer
Before going on to indicate that there generally is a taxable employment benefit where the employer pays the fund management fees for a group RRSP...
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Tax Topics - Income Tax Act - Section 6 - Subsection 6(1) - Paragraph 6(1)(a) | taxable benefit on employer payment of RRSP (including LIRA) and TFSA fund management fees but not those of DPSPs or SERPs | 68 |
30 May 1995 External T.I. 9505515 - RRSP TRUST WITH MORE THAN ONE ANNUITANT
Only one annuitant of an RRSP is permitted. Accordingly, a father and children cannot pool their RRSPs into one.
10 May 1995 Internal T.I. 9502796 - RRSP TRUSTS
A group RRSP must have one trust for each annuitant: an RRSP may not have more than one annuitant.
4 August 1994 External T.I. 9416995 - FOREIGN CURRENCY IN DEPOSITARY RRSP
Where the relationship between the annuitant and the RRSP issuer is as described in s. 146(1)(j)(ii)(C) [now s.b(iii)], the only restriction on...
17 February 1994 External T.I. 9401305 - RETIREMENT INCOME IN RRSP OWNED BY TWO ANNUITANTS
The provisions of the Act contemplate an RRSP as one individual's contract or arrangement with one financial institution. Accordingly, a purchase...
27 January 1994 T.I. H.A.A. 7255-1
Because the Act does not require that a deposit under (b)(iii) of the definition must accrue interest income rather than other types of income, it...
Articles
Teichman, "Creditor-Proofing Pension Assets", Taxation of Executive Compensation and Retirement, November 1993, p. 835.
Biro, "The Erosion of Life Insurance RRSP Immunity from Creditor's Claims", Estates and Trusts Journal, Volume 13, No. 2, p. 189.
McKee, "Debtor-Creditor Issues Affecting Annuity Contract", Estates and Trust Journal, Volume 12, No. 3, March 1993.
RRSP Deduction Limit
Administrative Policy
17 September 2003 External T.I. 2003-0027555 F - REER JUGES
CCRA provided a discussion and three examples regarding the computation of the RRSP deduction limit for federal judges in the context of pension...
1 September 1994 External T.I. 9420505 - RRSP DEDUCTION LIMIT FOR JUDGES
Re calculation of RRSP deduction limit for judges.
Deduction Limits
Spousal or Common-Law Partner Plan
Administrative Policy
30 September 2009 External T.I. 2009-0340061E5 F - FERR au profit de l'époux ou du conjoint de fait
Can a spousal or common-law partner registered retirement savings plan (RRSP) be transferred to a registered retirement income fund (RRIF) that is...
14 July 1994 External T.I. 9415915 - RRSP AS SPOUSAL PLAN
Once an RRSP meets the definition of a spousal plan, it does not lose that status. Accordingly, the RRSP issuer should maintain records pertaining...
Unused RRSP Deduction Room
See Also
Roy v. The Queen, 2019 TCC 50 (Informal Procedure)
The taxpayer made a substantial overcontribution to his RRSP to fund investments that quickly became worthless. Accordingly, he was not in a...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 204.2 - Subsection 204.2(1.2) | CRA could not deny the carry-forward of excess RRSP contributions as an imposed quid pro quo for forgiving Part X.1 penalty tax | 422 |
Paragraph 146(1)(i.1)
Administrative Policy
3 February 1992 External T.I. 5-912583
There is no restriction on the currency in which an annuity may be denominated.
29 October 1991 T.I. (Tax Window, No. 12, p. 16, ¶1558)
An annuity for a fixed term other than that specified in s. 146(1)(i.1)(ii) will not qualify.
Subsection 146(1.1)
Administrative Policy
4 July 2011 External T.I. 2010-0380071E5 F - Reer au décès
In the course of a general discussion respecting transfers out of a deceased annuitant’s RRSP, CRA stated:
[E]ven if the child's or grandchild's...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Benefit - Paragraph (a) | not a taxable “benefit” to non-annuitant if included in annuitant’s income under s. 146(8.8 | 180 |
Subsection 146(2) - Acceptance of plan for registration
Paragraph 146(2)(a)
Cases
Vancouver A & W Drive-Ins Ltd. v. United Food Services Ltd. (1981), 13 BLR 89 (BCSC)
It was stated in response to an argument that the Act operates to deprive an annuitant of his right to terminate an R.R.S.P. trust:
"It is one...
Administrative Policy
26 July 1989 T.I. (Dec. 89 Access Letter, ¶1057)
Where a trustee had been unable to locate certain of the plan holders for approximately three years and an associated firm had loans outstanding...
Paragraph 146(2)(b.4)
Administrative Policy
27 July 2004 External T.I. 2004-0077581E5 F - Transfert d'un REÉR à une fiducie
In order to render this retirement savings plan non-seizable under the laws of Quebec, the holder of an RRSP plan issued by a trust company or...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(12) | transfer by an individual of his RRSP to a trust set up for his exclusive benefit would engage s. 146(12)(b) | 69 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Retirement Savings Plan | listing of qualified issuers | 210 |
Paragraph 146(2)(c)
Administrative Policy
13 July 1994 External T.I. 9415435 - BANKRUPTCY TRUSTEE SEIZING REGISTERED PLAN ASSETS
The seizure of the property in an RRSP by a trustee in bankruptcy would not offend s. 146(2)(c) because of the agency relationship deemed to exist...
Paragraph 146(2)(c.3)
Cases
The Queen v. The Maritime Life Assurance Co., 2000 DTC 6402 (FCA)
Two RRSPs administered by the respondent were not amenable to seizure under s. 224(1) as no request had been received by the respondent to pay to...
Locations of other summaries | Wordcount | |
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Tax Topics - Excise Tax Act - Section 131 | 75 |
Whaling, Re, 99 DTC 5478, [1999] 4 CTC 221 (Ont CA)
In connection with a loan to the taxpayer by the CIBC, which was the depositary for two RRSPs that he opened up with the CIBC, it was agreed that...
In Re Leavitt, 98 D.T.C 6282 (BCCA)
S.146(2)(c.3) was found to apply not only to deposit plans but also to trust plans administered by members of the CPA. Accordingly, Canada Trust...
Deloitte, Haskins & Sells Ltd, Trustee of Pheonix v. Bank of Nova Scotia, 89 DTC 5355, [1989] 1 CTC 442 (Sask. C.A.)
After finding that a general assignment of book debts made by the bankrupt in favour of a bank was not intended to cover his RRSP, Sherstobitoff...
Articles
Boyd, "RRSP Loans: Re: Leavitt End Restrictions on Lenders' Rights Against the Plan", RRSP Planning, Vol. IV, No. 2, 1997, p. 249.
Subparagraph 146(2)(c.3)(ii)
Administrative Policy
23 November 2007 Internal T.I. 2007-0258051I7 F - REÉR - Hypothèque légale
The Directorate indicated that a tax debtor could provide a hypothec of his interest in his RRSP to CRA in order to secure a tax debt without the...
Paragraph 146(2)(c.4)
Administrative Policy
9 January 1997 External T.I. 9640105 - REIMBURSEMENT OF RRSP ADMIN FEES
"Where the terms of the RRSP plan document provide that the trustee or administration fee may be recovered from the plan funds, the payment of...
17 February 1995 External T.I. 9433295 - REIMBURSEMENT-ADM. FEES
Regarding whether there is an advantage under s. 146(2)(c.4) where there is a payment by a financial institution into a taxpayer's RRSP as a...
2 November 1994 Internal T.I. 9427336 - RRSP ADVANTAGES OF LOW-INTEREST LOAN
In most cases, an annuitant who borrows in order to make an RRSP contribution will be subject to a requirement while the RRSP loan is outstanding...
1 March 1994 External T.I. 9402215 - HAA7255-1 RRSP ADVANTAGES CHARITABLE DONATIONS
A contribution made by an organization to a charity based on contributions to an RRSP by an annuitant of the RRSP would be an unacceptable...
1 September 1992 T.I. (Tax Window, No. 24, p. 19, ¶2192)
Amounts paid by mutual fund managers to RRSPs as a reimbursement of redemption charges incurred by the RRSPs in switching mutual funds will not be...
31 July 1991 T.I. (Tax Window, No. 7, p. 21, ¶1379)
Where the mortgagor of a property is the annuitant, the RRSP will be considered to have conferred a benefit on the annuitant unless the mortgage...
Subsection 146(4) - No tax while trust governed by plan
Administrative Policy
9 June 1995 External T.I. 9507125 - RRSP AND SHORT SALE OF SHARES
RC will consider a short sale of shares covered by a long convertible debenture to be similar to the writing of a covered call option.
30 January 1995 External T.I. 9430685 - RRSP QUALIFIED INVESTMENTS - PUTS & CALLS
An RRSP that writes naked call options would be considered to be carrying on a business.
27 October 1994 External T.I. 9427105 - OPTIONS AS RRSP QUALIFIED INVESTEMENTS
Explanation of why writing covered call options and purchasing call options are acceptable RRSP activities, whereas buying put options is not.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(9) | 17 | |
Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(e) | 32 |
27 July 1994 External T.I. 9416565 - RRSP ENTERING INTO A SPREAD WITH OPTIONS
Entering into a spread, for example, simultaneously writing a naked call option with a higher exercise price against a call option purchased by...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 204 - Qualified Investment - Paragraph (a) | 75 |
14 June 1994 External T.I. 9337395 - 146(4)
The mere fact that the annuitant has ceased to be a resident of Canada does not imply that the income of the RRSP becomes subject to tax.
1 June 1993 Income Tax Severed Letter 930642A F - Qualified Investment
"It is our view that paragraph 146(4)(a) and subsection 146(10) of the Act do not apply where a RRSP buys shares payable on an instalment basis...
19 May 1993 T.I. (Tax Window, No. 31, p. 5, ¶2512)
The writing of naked call options (unlike the writing of covered call options) will be considered to be carrying on a business. Where the RRSP did...
22 February 1991 T.I. (Tax Window, Prelim. No. 3, p. 22, ¶1118)
An RRSP trust that engages in hedging or short sales might be considered to be carrying on a business rather than investing.
19 April 1990 T.I. (September 1990 Access Letter, ¶1431)
Entering into a spread transaction (i.e., simultaneously writing a naked call option with a higher exercise price against a call option purchased...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(e) | 10 |
Paragraph 146(4)(a)
Administrative Policy
S3-F10-C1 - Qualified Investments – RRSPs, RESPs, RRIFs, RDSPs, FHSAs and TFSAs
Accommodation of unintended short-term overdrafts
1.84 The CRA will not apply the adverse income tax consequences ... to an overdraft in a...
11 April 2002 External T.I. 2002-0125675 F - REER DECOUVERT BANCAIRE
An RRSP (apparently holding its cash in a bank account held on its behalf) goes into overdraft as a result of an administrative fee charged to it....
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | overdraft in RRSP bank account due to admin fee charge could represent the use of trust property as loan security | 84 |
Paragraph 146(4)(b)
See Also
Canadian Western Trust Company v. The King, 2023 TCC 17, aff'd 2024 FCA 108
The self-directed TFSA of a professional investment advisor, which actively traded qualified investments (mostly, penny stocks listed on the TSX...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146.2 - Subsection 146.2(6) | a TFSA is not exempted on profits of a business of trading in qualified investments | 370 |
Administrative Policy
S3-F10-C1 - Qualified Investments – RRSPs, RESPs, RRIFs, RDSPs, FHSAs and TFSAs
Day-trading permitted
1.89 In the case of an RRSP or RRIF, the rules in paragraphs 146(4)(b) and 146.3(3)(e) for calculating the amount of...
10 October 2014 APFF Roundtable, 2014-0538221C6 F - Day Trading in RRSP
Does CRA accept comments in Prochuk for the proposition that day trading in an RRSP trust does not result to carrying on a business for the...
Paragraph 146(4)(c)
Administrative Policy
13 August 2020 External T.I. 2019-0802891E5 F - Unclaimed RRSP Benefits
The estate of the deceased annuitant of an RRSP was fully settled without the executor (his surviving wife and the sole beneficiary) being aware...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Benefit - Paragraph (a) | benefit includible in deceased annuitant’s return was not subject to "benefit"-(a) exclusion because it was not reported | 312 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | s. 146(8) benefit paid to the taxpayer’s administrator was not includible in her income until the year she was identified and received the amount | 377 |
Tax Topics - General Concepts - Payment & Receipt | constructive receipt of amount deducted on account of fees that were the recipient’s obligation | 280 |
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | fees incurred as a consequence of receiving unclaimed property (which was taxable under s. 146(8)) were non-deductible | 205 |
Tax Topics - Income Tax Act - Section 9 - Timing | receipt of income by an administrator was not income of the beneficial owner until the year she was identified | 350 |
Subsection 146(5) - Amount of RRSP premiums deductible
Administrative Policy
14 May 2019 CLHIA Roundtable Q. 3, 2019-0799111C6 - 2019 CLHIA Q3 - 3rd party RRSP contributions
Can a financial institution accept a contribution to an annuitant’s RRSP from a third party who is not the annuitant’s spouse (i.e., drawn on...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - General Concepts - Payment & Receipt | payment at direction of annuitant is payment by annuitant | 65 |
31 August 2011 External T.I. 2011-0416541E5 F - Montant admis en déduction - REÉR
S. 922 of the Taxation Act (Quebec) provided that “an individual may deduct, in computing his income for a taxation year, the amount that, by...
7 December 2010 External T.I. 2010-0363431E5 F - Date limite cotisation REER
Is the deadline met if a taxpayer signs a cheque on March 1 and deposits it in the mail on the same day? CRA responded:
In general, we consider a...
Locations of other summaries | Wordcount | |
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Tax Topics - General Concepts - Payment & Receipt | RRSP premium “paid” when cheque received by issuer, not when it’s deposited | 104 |
20 August 2009 External T.I. 2008-0294531E5 F - Placement admissible REÉR - Parts privilégiées RIC
Regarding preferred shares issued by a cooperative to a purchaser who commits at a later date to pay for the shares, but in the meantime transfers...
23 January 1997 External T.I. 9639585 - INVESTMENT COUNSEL FEES, RRSP
"Where an annuitant of an RRSP or RRIF trust enters into a contract with a person for advice on the purchasing and selling of investments of the...
3 October 1996 External T.I. 9631565 - FEES FOR RRSP & RPP
The payment of administration or management fees by an annuitant will constitute the payment of a premium to the RRSP.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(11) | 27 |
8 June 1995 External T.I. 9507325 - REIMBURSEMENT TO RRSP OF MUTUAL FUND REDEMPTION FEES
Where a broker selling units of a mutual fund to an RRSP reimburses the RRSP for the redemption fee payable by it on redeeming a mutual fund...
28 April 1995 External T.I. 9503445 - STOCK OPTION IN RRSP
Where an employee contributes a stock option to acquire a share for an exercise price of $3, when the share has a fair market value of $10, the...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 7 - Subsection 7(1) - Paragraph 7(1)(c) | 59 |
13 June 1994 External T.I. 9412415 - PAYMENT OF RRSP/RESP INVESTMENT EXPENSE
The reimbursement by brokers or dealers of the redemption fee owed by a registered plan unitholder on the exchange of mutual fund units for units...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Premium | reimbursement-in-kind by investment dealer of expenses of RRSP in switching MFT funds was not a premium | 161 |
8 December 1993 Income Tax Severed Letter 932271A F - Deduction of RRSP Overcontribution
Following the maturation of an RRSP when an annuitant turns 71, she may continue to deduct amounts that were over-contributed to her RRSP so long...
1 December 1993 Income Tax Severed Letter 9332845 - RRSP Non-Resident Contribution Carry Forward
Discussion of rules governing contributions to an RRSP by a non-resident of Canada.
22 April 1992 External T.I. 5-921033
Annuitants who pay annual mortgage administration fee in respect of mortgages held in their RRSP will be considered to have made a gift to the plan.
8 May 1991 T.I. (Tax Window, No. 3, p. 30, ¶1247)
An individual who has made an over-contribution in the year he turns 71 may deduct the amount of the over-contribution in subsequent years to the...
May 1991 T.I. (C.T.O. Fax Service Document No. 96)
Fees relating to investments of an RRSP (e.g., fees for transfers, investment counselling and brokerage) are expenses of the trust. Accordingly,...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | 41 |
22 September 1989 T.I. 5-8449 (C.T.O.)
Contributions to an RRSP trust made to offset expenses of the trust described in IT-124R5, para. 2, represents premiums.
IT-320R2 "Registered Retirement Savings Plans - Qualified Investments"
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Qualified Investment | 0 |
IT-124R5 "Contributions to Registered Retirement Savings Plans"
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | 24 |
Articles
Kaplan, "Registered Retirement Savings Plan: An Update", 1997 Canadian Tax Journal, Vol. 45, No. 6, p. 1416.
Ripsman:, "IPP, IPP, 'ooray", August 1993 CA Magazine, p. 39
Comparison of the respective advantages of an individual pension plan and a registered retirement savings plan.
Boulanger, "Registered Retirement Savings Plan May Provide Greater Tax-Assisted Accumulation Under Certain Circumstances", Taxation of Executive Compensation and Retirement, October 1990, p. 339.
Paragraph 146(5)(a)
Subparagraph 146(5)(a)(iv.1)
Administrative Policy
16 August 2001 External T.I. 2001-0093715 F - ALLOCATION DE RETRAITE ET RAP
In confirming that a retiring allowance transferred to an RRSP can be withdrawn under an HBP without having to wait 90 days, CCRA indicated that...
Subsection 146(5.1) - Amount of spousal RRSP premiums deductible
Administrative Policy
2 October 2001 External T.I. 2001-0100355 F - ALLOCATION DE RETRAITE ET REER
Regarding an individual who wished to transfer part of his retiring allowance to his spouse's RRSP, up to his RRSP deduction limit, and the...
4 January 1992 T.I. (Tax Window, No. 28, p. 23, ¶2394)
In respect of the 1992 and subsequent taxation years, RC will permit the deduction of contributions made to a spousal RRSP in respect of the...
IT-307R2 "Registered Retirement Savings Plan for Taxpayer's Spouse"
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 60 - Paragraph 60(j.1) | 29 |
Subsection 146(5.21) - Anti-avoidance
Paragraph 146(5.21)(a)
Administrative Policy
20 December 1989 T.I. (May 1990 Access Letter, ¶1233)
s. 146(5.21)(a) could apply where there has been an unnecessary deferral of DPSP contributions.
Subsection 146(6)
Cases
The Queen v. Chambers, 96 DTC 6095, [1996] 1 CTC 265 (FCTD)
The taxpayers, who would borrow money on a non-interest bearing basis from their RRSPs at the beginning of a taxation year and then borrow money...
See Also
Foreman v. MNR, 93 DTC 7, [1992] 2 CTC 2621 (TCC)
The taxpayer's self-directed RRSP made a loan to him in the taxation year evidenced by promissory notes, and in the same year the taxpayer repaid...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Disposition | debt disposition includes its extinguishment | 73 |
Paragraph 146(4)(a)
Administrative Policy
22 October 2015 Internal T.I. 2013-0486491I7 - Overdrafts in a TFSA
CRA stated that it will not act on “an overdraft in a TFSA if it:
- is temporary in nature and covered without undue delay;
- arises as a result of...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.2 - Subsection 146.2(2) - Paragraph 146.2(2)(f) | administrative accommodation of short term inadvertent overdrafts but not of cashless warrant exercise | 372 |
Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Unused TFSA Contribution Room | deemed proceeds under s. 146.2(8) are not a distribution | 147 |
Subsection 146(7)
Administrative Policy
5 April 2002 External T.I. 2002-0122055 F - BIEND D'UN REER DONNES EN GARANTIE
After referring to the inclusion under s. 146(10) to a non-depositary RRSP property of which has been used as security, CCRA stated:
Subsection...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(12) | where property used as security, s. 146(12) rather than s. 146(10) applies to a depositary RRSP | 178 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | s. 146(10) rather than s. 146(12) applies to a non-depositary RRSP where its property is used as security | 150 |
Subsection 146(8) - Benefits taxable
Cases
Lavoie v. The Queen, 2009 DTC 998, 2009 TCC 293 (Informal Procedure), aff'd 2010 DTC 5171 [at 7303], 2010 FCA 266
Payments to the taxpayer from a mutual fund in his RRSP portfolio, part of a settlement between the mutual fund and the Ontario Securities...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | 157 |
See Also
Demers v. The Queen, 2014 TCC 368
The two taxpayers, who had been CN employees, were convinced by two promoters (the Lavignes) to transfer all the funds in their CN pension plans...
Locations of other summaries | Wordcount | |
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Tax Topics - General Concepts - Rectification & Rescission | Superior Court nullification of investment contracts did not nullify RRSP withdrawals | 175 |
Astorino v. The Queen, 2010 DTC 1112 [at 3061], 2010 TCC 144 (Informal Procedure)
The taxpayer transferred money from his RRSP into a registered retirement plan whose registration was later revoked retroactively. Miller J....
Israel v. The Queen, 79 DTC 5418, [1979] CTC 468 (FCTD)
Amounts paid out of an RRSP no longer retained their character as farming income, notwithstanding that the funds for the initial deposit came from...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 119 - Subsection 119(1) | 27 | |
Tax Topics - Income Tax Act - Section 244 - Subsection 244(13) | 42 | |
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Farming | employee not engaged in farming business | 46 |
Administrative Policy
25 February 2021 Internal T.I. 2020-0865641I7 - Settlement Payments to Registered Plans
In response to a query on whether the income tax treatment of settlement payments made to RRSPs and RRIFs also applies to payments made to TFSAs,...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Unused TFSA Contribution Room - Paragraph (b) - Element D | damages payments made to a TFSA are not treated as a contribution | 143 |
Tax Topics - Income Tax Act - Section 146.4 - Subsection 146.4(6) | RDSP damages paid to and retained by the beneficiary would be taxable | 220 |
Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(1) - Registered Plan Strip | advantage if RDSP damages are received by a holder who is not a beneficiary | 220 |
Tax Topics - Income Tax Act - Section 146.1 - Subsection 146.1(7.1) | RESP damages received and retained by the subscriber would be included under s. 146.1(7.1) | 174 |
13 August 2020 External T.I. 2019-0802891E5 F - Unclaimed RRSP Benefits
The executor of the estate of the deceased annuitant of an RRSP trust was unaware of the RRSP, did not notify the issuer of the RRSP, and settled...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Benefit - Paragraph (a) | benefit includible in deceased annuitant’s return was not subject to "benefit"-(a) exclusion because it was not reported | 312 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(4) - Paragraph 146(4)(c) | tax imposed on RRSP under s. 146(4)(c) where RRSP issuer unaware of annuitant’s death | 187 |
Tax Topics - General Concepts - Payment & Receipt | constructive receipt of amount deducted on account of fees that were the recipient’s obligation | 280 |
Tax Topics - Income Tax Act - Section 18 - Subsection 18(1) - Paragraph 18(1)(a) - Income-Producing Purpose | fees incurred as a consequence of receiving unclaimed property (which was taxable under s. 146(8)) were non-deductible | 205 |
Tax Topics - Income Tax Act - Section 9 - Timing | receipt of income by an administrator was not income of the beneficial owner until the year she was identified | 350 |
9 December 2004 External T.I. 2004-0093621E5 F - REÉR et faillite
Regarding the seizure of an RRSP during bankruptcy, and when that would result in an income inclusion under s. 146(8) to the taxpayer, CRA...
6 April 2004 Internal T.I. 2004-0067761I7 F - Indemnisation pour perte dans un REÉR
After finding that damages paid to an RRSP for loss of capital and income were not a premium paid to the RRSP and did not give rise to a s. 146(8)...
7 November 2002 External T.I. 2002-0168795 F - REER TRANSFERT D'ACTIONS AU RENTIER
CCRA indicated that shares held in an RRSP could be transferred to a non-registered account of the annuitant, but that this would result in the...
24 May 2002 External T.I. 2002-0123225 F - REER DONNE EN GARANTIE
After noting that where an RRSP provides a secured guarantee of a loan to the annuitant, the fair market value of the property given as security...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | inclusion under s. 146(10) for secured guarantee not limited to loan value, and ousts application of s. 146(8) if payment made by RRSP pursuant to guarantee | 162 |
Tax Topics - Income Tax Act - Section 248 - Subsection 248(28) | s. 248(28) prevents double inclusion under s. 146(10) when secured guarantee given and under s. 146(8) when guarantee called | 96 |
14 January 2002 External T.I. 2001-0116225 F - DOMMAGE SUBI PAR UN REER ET INDEMNITE
Regarding compensation paid by a broker to an RRSP to offset losses incurred by the trust as a result of the broker's management, CCRA indicated...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Premium | payment by broker of damages to RRSP was not a premium | 50 |
30 August 2001 External T.I. 2001-0093645 F - FRAIS IMPUTE A UN REER LORS D'UN RETRAIT
In finding that no related benefit need be reported on the T4RSP form, CCRA stated:
[A]dministrative fees charged to an RRSP on a partial...
3 October 1996 External T.I. 9628565 - RRSP ADMINISTRATION & INVESTMENT MANAGEMENT FEES
Where funds inside an RRSP (or RRIF) are used to pay administration fees, no benefit or amount is received by the annuitant as a consequence thereof.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Premium | annuitant's payment of management fees was a contribution | 35 |
Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(2) | 45 |
9 January 1996 External T.I. 9528685 - RRSP ISSUER INTERPLEADS TO THE COURTS
The transfer of property of an RRSP to a court as a result of an interpleading will not result at that time in an income inclusion to the annuitant.
4 July 1995 External T.I. 9516955 - MUTUAL FUND T4RSP REPORTING
"The costs associated with redeeming mutual fund units in an RRSP trust are expenses of the trust and are properly paid for with trust funds."...
2 June 1995 External T.I. 9503755 - CHARITABLE GIFT ANNUITY IN RRSP
Discussion of application of ss.56(2) and 146(8) where an annuitant wishes to use some or all of the property in his RRSP to purchase a charitable...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 56 - Subsection 56(2) | 29 |
30 November 1992 T.I. 923168 (September 1993 Access Letter, p.423, ¶C144-238)
Bonus interest payments paid by a credit union directly to the annuitant of an RRSP would be included in the annuitant's income under s. 146(8)....
Subsection 146(8.1) - Deemed receipt of refund of premiums
Administrative Policy
7 October 2022 APFF Roundtable Q. 13, 2022-0942181C6 F - Transfer of an RRSP at death
The estate of the deceased distributes $100,000 from his RRSP (which had not matured at the time of his death) in settlement of the claim against...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(23.1) - Paragraph 248(23.1)(a) | s. 248(23.1)(a) does not deem the amount paid to be received as beneficiary of the estate as per s. 146(8.1) | 238 |
7 October 2020 APFF Financial Strategies and Instruments Roundtable Q. 4, 2020-0851621C6 F - RRSP or RRIF on death – Joint election
(a) Where an unmatured RRSP is the subject of a particular legacy to the deceased annuitant's spouse and the RRSP proceeds are distributed by the...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.1) | specific bequest of RRIF is treated as passing through the estate’s hands, so that a s. 146.3(6.1) election is necessary | 95 |
11 October 2019 APFF Financial Strategies and Instruments Roundtable Q. 12, 2019-0815181C6 F - RRSP on death and refund of premiums
The executor wished to have $50,000 of the value of the RRSP of the deceased (Mr. X) included in his income, and for the balance of $200,000 to be...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.1) | rollover of post-death RRIF income under s. 146.3(6.1) | 390 |
11 October 2013 Roundtable, 2013-0495281C6 F - Question 9 - APFF Round Table
CRA stated :
Where an amount under an unmatured RRSP of a deceased annuitant is paid to the deceased's legal representative and the surviving...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(l) | transfer to RRSP or RRIF of surviving non-resident spouse: SIN required; payment can be made directly to RRSP/RRIF of surviving spouse in accordance with joint instructions even where no specific non-will designation is made | 542 |
Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.1) | transfer of RRIF by executor to RRIF of surviving spouse | 328 |
Tax Topics - Income Tax Act - Section 212 - Subsection 212(1) - Paragraph 212(1)(q) | direct transfer to RRIF of surviving non-resident spouse | 297 |
7 November 2006 External T.I. 2006-0201261E5 F - REER: Legs à une fiducie exclusive au conjoint
Mr. A left his entire estate to a spousal trust for his wife, Ms. A. After Mr. A's death, the trustee made a capital distribution as an...
10 May 2006 External T.I. 2005-0162591E5 F - Renonciation à une succession: REER
Mr. A, who died intestate holding an unmatured RRSP and other assets, left his spouse ("Mrs. A") and two children as heirs. If the children...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(8) - Paragraph 248(8)(b) | renunciation by two children for the benefit of the other heir would not qualify | 183 |
9 May 2006 External T.I. 2005-0161941E5 F - REER: Legs à une fiducie exclusive au conjoint
Under the terms of his will, Mr. A left all of his property to a spousal trust for his wife, Ms. A. After Mr. A's death in 2006, the trustee made...
1 June 2004 External T.I. 2004-0073441E5 F - Transfert d'un REÉR au décès
The deceased, who had been required under a separation agreement to pay weekly amounts to his spouse in settlement of entitlement to compensatory...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(16) | s. 146(16) cannot be utilized once one of the spouses has died | 79 |
10 March 2004 External T.I. 2002-0164661E5 F - REÉR au décès: rente pour un bénéficiaire mineur
The annuitant of a registered retirement savings plan ("RRSP") died, leaving his 10-year-old son who was financially dependent for his support and...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 60 - Paragraph 60(l) - Subparagraph 60(l)(ii) - Clause 60(l)(ii)(B) | child is the only one, prior to the child’s death, to have a beneficial interest in the amounts payable under the annuity | 355 |
24 March 2003 External T.I. 2002-0165265 F - REMBOURSEMENT DE PRIMES
In finding that the joint election under s. 146(8.1) cannot be made by the executor and the surviving spouse of the deceased annuitant even though...
2 May 1995 External T.I. 9426765 - RRSP'S, RRIF'S, 212(1)
"Where the legal representative and the spouse as beneficiary of the deceased's estate, jointly direct that the amount that would otherwise be...
20 November 1991 Memorandum (Tax Window, No. 7, p. 7, ¶1390)
Where an amount is paid out of an RRSP to the estate of the deceased annuitant and a designation is made under s. 146(8.1), the beneficiary must...
10 April 1991 T.I. (Tax Window, No. 2, p. 26, ¶1198)
The taxation year referred to is the taxation year of the estate in which the payment was received.
Subsection 146(8.2)
Administrative Policy
23 October 2017 External T.I. 2017-0685001E5 F - Withdrawal of RRSP over-contributions after death
An individual, who made an excess RRSP contribution in 2015, dies in 2016. CRA noted that technically, in order for the executor to claim a s....
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 4, 2017-0707781C6 F - Withdrawal of undeducted RRSP contributions
In the following situations, can the taxpayer claim a deduction under s. 146(8.2) for the withdrawal of an excess (otherwise deductible)...
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 2, 2017-0710681C6 F - Withdrawal of RRSP over-contributions after death
An individual, who made an excess RRSP contribution in 2015, dies in 2016. Where the time periods in s. 146(8.2) are met, can the executor...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.8) | income inclusion under s. 146(8.8) on death irrespective whether premiums exceeded deductible amount | 117 |
Paragraph 146(8.2)(c)
Administrative Policy
26 January 2010 External T.I. 2009-0344121E5 F - REER, déduction pour cotisations excédentaires
In finding that the reference in s. 146(8.2)(c)(ii) to the year in which a notice of assessment is sent refers to the notice of assessment under...
Subsection 146(8.3) - Spousal or common-law partner payments
Cases
Gilbert v. The Queen, 93 DTC 5124, [1993] 1 CTC 233 (FCA)
Given that s. 146(8.3) refers to "premiums paid" by the taxpayer in the two preceding taxation years rather than "premiums deducted" in such...
Administrative Policy
18 September 2013 External T.I. 2012-0462061E5 F - Amount included in the income of the annuitant
An individual used a spousal or common-law partner plan for the purpose of making an "excluded withdrawal" within the meaning of s. 146.01(1), and...
7 October 2011 Roundtable, 2011-0408251C6 F - REER, règle d'attribution, retenues à la source
The taxpayer in Charrier v. Quebec (2010 EXP-2783) contributed $5,970 to his spouse's RRSP in 2005, which he deducted, and a year later the amount...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 153 - Subsection 153(1) - Paragraph 153(1)(j) | application of s. 153(1)(j) not affected by application of s. 146(8.3) | 243 |
Subsection 146(8.8) - Effect of death where person other than spouse becomes entitled
Cases
Curley v. MacDonald, 2001 DTC 5141 (Ont Sup CT J)
The estate of the deceased annuitant of an RRSP was liable for the income taxes payable as a result of the deemed benefit under s. 146(8.8). Only...
Slater v. Klassen Estate, 2000 DTC 6336 (Man. Q.B.)
In finding that the estate of the taxpayer, who was the annuitant under RRSPs under which his former wife was the beneficiary, was liable to...
See Also
Murphy Estate v. The Queen, 2015 TCC 8
In his terminal return for his 2009 year, the taxpayer reported RRSP income of $256, 829 in respect of an RRSP for which his children were the...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - General Concepts - Effective Date | disclaimer has retroactive effect | 128 |
Administrative Policy
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 2, 2017-0710681C6 F - Withdrawal of RRSP over-contributions after death
An individual, who made an excess contribution in 2015, dies in 2016. Will the excess contribution be added to the deceased’s income under ss....
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.2) | deemed s. 146(8.8) benefit on death treated as RRSP withdrawal, and executor should not use Form T746 | 231 |
26 February 2003 External T.I. 2002-0163625 F - FONDS RESERVES GARANTIS AU DECES
When the annuitant died, the fair market value of the RRSP assets (a segregated fund) was $18,000. However, the contract provided a guaranteed...
14 October 1997 External T.I. 9706535 - MUTUAL FUND VALUATION
In finding that the fair market value of mutual fund units held by an RRSP would take into account redemption fees, RC stated that "if units of a...
Locations of other summaries | Wordcount | |
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Tax Topics - General Concepts - Fair Market Value - Shares | 66 |
19 August 1993 T.I. (Tax Window, No. 33, p.8, ¶2644)
Where the estate of the deceased is the beneficiary of an RRSP and the deceased's spouse has an interest in the RRSP only by virtue of being a...
1992 A.P.F.F. Annual Conference, Q. 20 (January - February 1993 Access Letter, p. 58)
In light of the definition of "spouse" in s. 146(1.1), a deduction may be obtained under s. 146(8.8) for the transfer of a portion of an RRSP fund...
Subsection 146(8.9) - Idem [Effect of death where person other than spouse becomes entitled]
Administrative Policy
8 April 2020 External T.I. 2016-0668991E5 F - Death of RRSP or RRIF annuitant
Is the deduction provided under s. 146(8.9) discretionary when the surviving spouse is named sole beneficiary in an unmatured RRSP contract? CRA...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(6.2) | s. 146.3(6.2) deduction can be less than the formula amount and does not depend on timely receipt of T4RIF – but applies only when the last annuitant of a RRIF dies | 224 |
Tax Topics - Income Tax Regulations - Regulation 214 - Subsection 214(4) | T4RSP issued to surviving spouse rather than to deceased where transfer of entire refund of premiums to surviving spouse’s RRSP and RRSP is fully distributed | 268 |
Tax Topics - Income Tax Regulations - Regulation 215 - Subsection 215(4) | T4RIF issued to surviving spouse rather than to deceased where transfer of entire eligible amount to surviving spouse’s RRSP or RRIF, and RRIF is fully distributed | 268 |
Tax Topics - Income Tax Regulations - Regulation 205 - Subsection 205(1) | issuer required to issue T4RSP or T4RIF within a reasonable time after notification of death received after February filing date | 116 |
9 January 1996 External T.I. 9517185 - DEATH, RRSP MATURITY, SPOUSE
Where an annuitant dies prior to the maturity of an RRSP, the deceased annuitant's spouse is the beneficiary and the plan administrator does not...
16 July 1991 T.I. (Tax Window, No. 6, p. 9, ¶1353)
RC's assessing policies may not apply if the disbursements out of the RRSP do not satisfy beneficial interests which are valid under provincial law.
Subsection 146(8.91) - Amounts deemed receivable by spouse or common-law partner
Administrative Policy
4 March 1991 T.I. (Tax Window, No. 1, p. 12, ¶1132)
Where the annuitant of an RRSP dies after maturity of the plan and the spouse is entitled to 1/2 of the property in the RRSP, no rollover is...
Subsection 146(9) - Where disposition of property by trust
Cases
St. Arnaud v. Canada, 2013 DTC 5074 [at 5909], 2013 FCA 88
The taxpayers were fraudulently induced to purchase worthless securities with their RRSP funds. Webb JA found that s. 146(9) did not apply to...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(4) | 323 | |
Tax Topics - Statutory Interpretation - Ordinary Meaning | context always considered | 76 |
See Also
Baker v. The Queen, 2014 DTC 1175 [at 3649], 2014 TCC 204
The taxpayer used his RRSP to purchase shares in a corporation for far more than their fair market value. The Minister included the difference in...
Administrative Policy
28 April 1995 External T.I. 9501085 - TRANSFER OF RRSP FUNDS TO CHARITY ISSUED ANNUITY
Where an amount paid by an RRSP for an annuity issued by a charity exceeds the fair market value of the annuity, the difference will be included...
30 January 1995 External T.I. 9430685 - RRSP QUALIFIED INVESTMENTS - PUTS & CALLS
It is the Departmental practice not to apply the provisions of s. 146(9) to an annuitant where an RRSP has written a covered call option and the...
27 October 1994 External T.I. 9427105 - OPTIONS AS RRSP QUALIFIED INVESTEMENTS
RC does not apply s. 146(9) to the writing of covered call options by an RRSP.
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(4) | 23 | |
Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(e) | 32 |
19 May 1993 T.I. (Tax Window, No. 31, p. 5, ¶2512)
S.146(9) will not be applied to the annuitant where a security of an RRSP is disposed of as a result of a covered call option previously written...
10 July 1992 External T.I. 5-921881
Where an RRSP holds a mortgage that is subject to proceedings pursuant to a power of sale, the RRSP should proceed in the same manner as any other...
Articles
Singer, "RRSPs Can Invest in a Wide Range of Equities", Taxation of Executive Compensation and Retirement, April 1990, p. 259
Although the writing of call options can run into technical difficulties where the RRSP is obliged to sell stock pursuant to its obligation under...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Qualified Investment | 15 |
Paragraph 146(9)(b)
See Also
Stewart v. The Queen, 2019 TCC 22
A corporation that was unrelated to the taxpayers (“Zowtra”) and was controlled by an indivual who was unrelated to them (Mr Rusnak) granted...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Regulations - Regulation 4900 - Subsection 4900(1) - Paragraph 4900(1)(j) | mortgage secured by largely worthless land was a mortgage | 251 |
Tax Topics - General Concepts - Fair Market Value - Other | mortgage issued in a scam had full FMV | 238 |
Subsection 146(10) - Property used as security for loan
Cases
Caisse populaire Desjardins de Val-Brillant v. Blouin, 2003 DTC 5420, 2003 SCC 31, [2003] 1 S.C.R. 666
Deschamps J. (in dissenting reasons with which the majority agreed) stated (at p. 5431) that: "there is no prohibition on using the monies held in...
Locations of other summaries | Wordcount | |
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Tax Topics - Statutory Interpretation - Provincial Law | 84 |
See Also
Lavoie v. The Queen, 2009 DTC 998, 2009 TCC 293 (Informal Procedure), aff'd 2010 DTC 5171 [at 7303], 2010 FCA 266
The OSC reached settlements with two mutual fund management companies, in respect of their conduct in overstating the net asset values of funds...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | 50 |
Dubuc c. La Reine, 2005 DTC 461, 2004 TCC 164 (Informal Procedure)
The taxpayer had her RRSP purchase shares of a corporation that were not a qualified investment, and had her RRSP guarantee a loan made to her by...
Administrative Policy
27 April 2010 Internal T.I. 2009-0335761I7 F - REÉR et revenu d'un Indien
Mr. A, a status Indian, who obtained rights in a registered pension plan through employment earnings that were exempted under s. 87 of the Indian...
Locations of other summaries | Wordcount | |
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Tax Topics - Other Legislation/Constitution - Federal - Indian Act - Section 87 | s. 87 exemption did not apply to blatant RPP/RRSP stripping arrangement | 244 |
20 April 2010 External T.I. 2010-0354681E5 - Part XI.1 Tax on RRSP Non-Qualified Investments
Before indicating that s. 207.1 applies to a qualified investment that has become a non-qualified investment, CRA stated:
As indicated in...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 207.1 - Subsection 207.1(1) | s. 207.1 applies to a qualified investment that has become a non-qualified investment | 122 |
7 January 2003 External T.I. 2002-0151375 - TRANSFERS OF NON-QUALIFIED INVESTMENTS
Where an annuitant transfers property that is a non-qualified investment which is subject to s. 207.1(1) of the Act to another of his or her...
24 May 2002 External T.I. 2002-0123225 F - REER DONNE EN GARANTIE
Regarding the tax consequences of an annuitant’s RRSP pledging its property as security for a personal loan, CCRA indicated:
- if a trust whose...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 248 - Subsection 248(28) | s. 248(28) prevents double inclusion under s. 146(10) when secured guarantee given and under s. 146(8) when guarantee called | 96 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(8) | generally no double taxation under s. 146(8) on payout on guarantee if property’s value previously included under s. 146(10)/ gross-up for source deduction purposes | 190 |
11 April 2002 External T.I. 2002-0125675 F - REER DECOUVERT BANCAIRE
An RRSP (apparently holding its cash in a bank account held on its behalf) goes into overdraft as a result of an administrative fee charged to it....
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(4) - Paragraph 146(4)(a) | bank overdraft due to admin fee charge to RRSP could constitute money borrowed from the trust | 84 |
5 April 2002 External T.I. 2002-0122055 F - BIEND D'UN REER DONNES EN GARANTIE
In the course of a general discussion of the consequences of an RRSP permitting its property to be used as security, CCRA drew a distinction...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(12) | where property used as security, s. 146(12) rather than s. 146(10) applies to a depositary RRSP | 178 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(7) | s. 146(7) can reverse only the current year’s inclusion under s. 146(10) | 98 |
11 October 2000 Ministerial Correspondence 2000-0040254 - QUALIFIED INVESTMENTS RRSP
By virtue of ss.146(6) and (10), there are generally no income tax implications for annuitants when foreign currency is disposed of within the...
8 June 1999 External T.I. 9906505 - WRITING OF PUT OPTIONS - RRSP
A put option is a non-qualified investment. However, as the writing of a put option does not entail an acquisition of property, s. 146(10) does...
30 January 1995 External T.I. 9430685 - RRSP QUALIFIED INVESTMENTS - PUTS & CALLS
Where cash is deposited as margin with a broker then, notwithstanding that such deposit would not be a qualified investment under s. 204(e)(i), s....
23 March 1994 External T.I. 9405965 - MORTGAGE IN RRSP
Although real property is not a qualified investment for an RRSP, RC is prepared not to apply either s. 146(10) or 207.1(1) where an RRSP acquires...
1 June 1993 Income Tax Severed Letter 930642A F - Qualified Investment
"It is our view that paragraph 146(4)(a) and subsection 146(10) of the Act do not apply where a RRSP buys shares payable on an instalment basis...
19 May 1993 T.I. (Tax Window, No. 31, p. 5, ¶2512)
The transfer, following the writing by an RRSP of a covered call option, of the underlying securities to a broker or a dealer until the option is...
27 June 1991 T.I. (Tax Window, No. 4, p. 30, ¶1319)
RC will not apply s. 146(10) or s. 207.1(1) if an RRSP acquires real property as a result of foreclosure of a mortgage that was qualified property...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 207.1 - Subsection 207.1(1) | 53 |
Articles
Singer, "Mortgages with Equity Tickers May Qualify as RRSP Investment", Taxation of Executive Compensation and Retirement, May 1990, p. 283.
RC will not insist on the inclusion of the fair market value of real property acquired on foreclosure if the foreclosure was necessary to protect...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Qualified Investment | 0 |
Subsection 146(10.1) - Where tax payable
Administrative Policy
S3-F10-C1 - Qualified Investments – RRSPs, RESPs, RRIFs, RDSPs, FHSAs and TFSAs
Calculation of income
1.76 A trust governed by an RRSP, TFSA, RRIF or RDSP is taxable under Part I on any income it earns in a tax year from...
4 December 2014 External T.I. 2014-0529681E5 - Non-qualified investments acquired by RRSP Trust
1. An RRSP trust, which holds shares of Company A that are a non-qualified investment, receives a stock dividend comprising additional shares of...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 207.04 - Subsection 207.04(2) | non-qualified stock dividend on qualified or non-qualified shares | 230 |
12 July 2013 External T.I. 2012-0447191E5 - RRSP trust taxation under 146(10.1)
An RRSP acquired shares after March 23, 2011, which were listed on a foreign designated stock exchange and were worth $43 per share, but then...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 207.01 - Subsection 207.01(6) | gain due to ACB grind | 81 |
Subsection 146(12)
Administrative Policy
27 July 2004 External T.I. 2004-0077581E5 F - Transfert d'un REÉR à une fiducie
In order to render this retirement savings plan non-seizable under the laws of Quebec, the holder of an RRSP plan issued by a trust company or...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(2) - Paragraph 146(2)(b.4) | qualifying RRSP cannot have a trust as the annuitant | 134 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(1) - Retirement Savings Plan | listing of qualified issuers | 210 |
5 April 2002 External T.I. 2002-0122055 F - BIEND D'UN REER DONNES EN GARANTIE
In the course of a general discussion of the consequences of an RRSP permitting its property to be used as security, CCRA drew a distinction...
Locations of other summaries | Wordcount | |
---|---|---|
Tax Topics - Income Tax Act - Section 146 - Subsection 146(10) | s. 146(10) rather than s. 146(12) applies to a non-depositary RRSP where its property is used as security | 150 |
Tax Topics - Income Tax Act - Section 146 - Subsection 146(7) | s. 146(7) can reverse only the current year’s inclusion under s. 146(10) | 98 |
Paragraph 146(12)(b)
Administrative Policy
10 December 2003 Internal T.I. 2003-0047467 F - DESENREGISTREMENT D'UN REER
The issuer manages RRSPS of annuitants who have attained 69 and which hold shares of cooperatives which are illiquid. Currently, no financial...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Regulations - Regulation 103 - Subsection 103(6) - Paragraph 106(6)(d) | no source deductions required where property is distributed in year subsequent to RRSP deregistration | 315 |
Subsection 146(16) - Transfer of funds
Administrative Policy
7 October 2016 APFF Financial Strategies and Instruments Roundtable Q. 5, 2016-0651721C6 F - Application of subsections 146(16) and 73(1) after death
Mr agreed in his separation agreement with Mrs to transfer to her the property in his RRSP. However, he died before the transfer was made. Does...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 73 - Subsection 73(1.01) - Paragraph 73(1.01)(b) | no rollover if transferor spouse dies before transfer pursuant to separation agreement made | 154 |
1 June 2004 External T.I. 2004-0073441E5 F - Transfert d'un REÉR au décès
The deceased, who had been required under a separation agreement to pay weekly amounts to his spouse in settlement of entitlement to compensatory...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 146 - Subsection 146(8.1) | whether s. 148(9.1) could be used to satisfy unpaid support of the deceased | 72 |
30 January 1990 T.I. (June 1990 Access Letter, ¶1276)
The rollover in s. 146(16) was available to spouses separate as to bed and board.
Paragraph 146(16)(b)
Administrative Policy
6 October 2017 APFF Financial Strategies and Instruments Roundtable Q. 1, 2017-0705221C6 F - Property transfers - common law partners in Québec
2005-0134081E5 indicated that two Quebec common-law partners [“conjoints de fait” - also translatable as de facto spouses] can, on the...
Locations of other summaries | Wordcount | |
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Tax Topics - Income Tax Act - Section 73 - Subsection 73(1.01) - Paragraph 73(1.01)(b) | rollover under common-law partners' separation agreement irrespective of whether technically they have separation rights to settle | 146 |
Tax Topics - Income Tax Act - Section 146.3 - Subsection 146.3(14) | rollover pursuant to common-law partners' settlement agreement | 104 |
21 April 2009 External T.I. 2008-0304451E5 F - Accord de séparation et transfert de biens
Does s. 146(16) apply to the transfer of a lump sum from an annuitant's RRSP to a former spouse's RRSP where the purpose of the transfer is to...
30 August 2005 External T.I. 2005-0134081E5 F - Transfert d'un REER entre conjoints de fait
Regarding the transfer of an RRSP between two separated common-law spouses, CRA paraphrased s. 146(16)(b) and stated:
[T]wo common-law spouses...
22 December 2003 External T.I. 2003-0053005 F - transfert d'un reer a un ferr
An individual acquired 10,000 shares in a co-operative, but the co-op now does not have the cash to redeem the shares held by the RRSP trust. The...
25 June 2002 External T.I. 2002-0145055 F - ACCORD DE SEPARATION TRANSFERT D'UN REER
Regarding a taxpayer who wished to amend a written separation agreement so as to transfer an amount from his RRSP to the RRSP or RRIF of his...