4 November 1989 Ministerial Letter 58748 F - Income-Averaging Annuity Contract

By services, 18 January, 2022
Official title
Income-Averaging Annuity Contract
Language
French
CRA tags
56(1)(d)
Document number
Citation name
58748
Severed letter type
Ministerial Letter
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
632597
Extra import data
{
"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1989-11-04 07:00:00",
"field_tags": []
}
Main text
19(1) File No. 5-8748
  B.G. Dodd
  (613) 957-9769

November 14, 1989

Dear Sir:

Re:  Income Averaging Annuity Contract

We are writing in reply to your letter dated September 26, 1989 regarding our earlier exchange of correspondence on the above-noted subject.

Further to Mr. Dodd's telephone conversation with you on November 7, 1989, we wish to reconfirm that pursuant to paragraph 56(1)(d) of the Income Tax Act, amounts received under an income averaging annuity contract must be included in income in the year of receipt.

We hope this will clarify matters.

Yours truly,

for DirectorFinancial Industries DivisionRulings Directorate