The correspondent (a registered charity) asked CRA to consider its position in 2018-0758611E5 that a charitable gift annuity issued by it was ineligible for a tax-deferred rollover under s. 60(l) having regard to the requirement in s. 60(l)(ii) is that the annuity must be purchased from a person licensed or otherwise authorized under the laws of Canada or a province to carry on an annuities business in Canada. CRA responded:
[O]ur position remains unchanged. … [T]he fact that provincial insurance law may exempt a charitable organization from the application of certain legislative requirements with respect to the issuance of charitable gift annuities does not amount to the organization being licensed or otherwise authorized under that law to carry on an annuities business in Canada. Consequently, a charitable gift annuity issued by such an organization would not satisfy this particular requirement of subparagraph 60(l)(ii).