11 October 2000 Ministerial Correspondence 2000-0040254 - QUALIFIED INVESTMENTS RRSP -- summary under Subsection 146(10)

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 same calendar year and there has been no fluctuation in the exchange rate. Accordingly, the "Agency will not apply these provisions where foreign currency is converted to Canadian currency or is used to acquire a qualified investment within a reasonable period of time (usually one month)".