| 19(1) | File No. 5-8033 |
| G. Thornley | |
| (613) 957-2101 |
June 28, 1989
Dear Sirs:
Re: Income Averaging Annuity Contracts ("IAAC")
This is in reply to your letter of May 3, 1989 and further to our telephone conversation (Thornley 19(1) of June 21, 1989 concerning your request that we confirm that ruling 24(1) issued on December 21, 1983 to 24(1) and 24(1) continues to apply. You also asked us to confirm that a particular proposed transaction would also apply.
As discussed with you on June 21, 1989, it will be necessary for you to request an advance income tax ruling with respect to your proposed transaction in accordance with the guidelines in Information Circular 70-6R.
You advise that you are already in the process of preparing such an advance income tax ruling request and will forward it, with attached documentation shortly.
Yours truly,
for DirectorSmall Business and General DivisionSpecialty Rulings DirectorateLegislative and IntergovernmentalAffairs Branch