31 July 2002 Internal T.I. 2002-0136937 F - Placement Français "Assurance-salaire-vie -- summary under Reporting Entity

The holder in France of an "assurance-salaire-vie," which is similar to a registered retirement savings plan except that a withdrawal from it is taxable only if made within the first eight years of the contribution, immigrates to Canada. The Directorate noted that such investment could be “specified foreign property” (intangible property situated outside Canada) and that its cost amount could have been stepped up under s. 128.1(1).