16 April 1992 Administrative Letter 9209426 F - RRSP Advantage

By services, 7 July, 2022
Official title
RRSP Advantage
Language
French
CRA tags
146(2)(c.4)
Document number
Citation name
9209426
Severed letter type
Administrative Letter
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
649525
Extra import data
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Main text
  7-920942
  D. S. Delorey
  957-8953

April 16, 1992

Registered Plans DivisionFinancial Industries DivisionS. M. Kotlar, Director

Attention:  Jeannine Lauzière

24(1)  

This is in reply to your memorandum of March 26, 1992, concerning a contest sponsored by the 24(1)

Our Comments

As stated in David Duff's memorandum to you of February 25, 1992, the chance to win a prize is an advantage under paragraph 146(2)(c.4) of the Act only where the prize is to be paid to the annuitant rather than into the annuitant's RRSP.  Since 24(1)contest involves prizes that will be paid into the winners' RRSPs, the chance to win such a prize is not considered to be an advantage under paragraph 146(2)(c.4) of the Act.

for DirectorFinancial Industries DivisionRulings Directorate