24 January 1992 External T.I. 9133376 F - RRSP Qualified Investment Saskatchewan Bonds

By services, 7 July, 2022
Official title
RRSP Qualified Investment Saskatchewan Bonds
Language
French
CRA tags
146(1) qualified investment, 204 qualified investment, ITR 4900(1)
Document number
Citation name
9133376
Severed letter type
Technical Interpretation - External
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
649834
Extra import data
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"field_release_date_new": "1992-01-24 07:00:00",
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Main text

 

  5-913337
  D. Duff
  (613) 957-8953

24(1)

Attention:  19(1)

January 24, 1992

Re:  Saskatchewan Community Bonds

This is in response to your letter of November 4, 1991, requesting our opinion on whether shares received on the conversion of Saskatchewan Community Bonds would be qualified investments for registered retirement savings plans ("RRSPs").

If the aforementioned bonds are convertible into shares of a corporation, such shares, in order to be a qualified investment for a RRSP, will have to meet the existing criteria for qualifying in the Income Tax Act or the Regulations.  If the shares do not meet this criteria, they will not be qualified investments for RRSPs and either the annuitant or the trust governed by the RRSP may be subject to penalties.

We trust this is satisfactory.

Yours truly,

for DirectorFinancial Industries DivisionRulings Directorate

21(1)(b)