4 July 1989 Internal T.I. 58267 F - Qualified Investments for RRSP

By services, 7 July, 2022
Official title
Qualified Investments for RRSP
Language
French
CRA tags
89(1) public corporation ITR 4900(1)(b)
Document number
Citation name
58267
Severed letter type
Technical Interpretation - Internal
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
649959
Extra import data
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"field_external_guid": [],
"field_proprietary_citation": [],
"field_release_date_new": "1989-07-04 08:00:00",
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Main text
19(1) File No. 5-8267
  F. Francis
  (613) 957-3496

July 4, 1989

Dear Sirs:

This is in reply to your letter of June 9, 1989, wherein you requested a technical interpretation in respect of paragraph 4900(1)(b) of the Income Tax Regulations (the "Regulations").

We confirm your understanding that a corporation that is resident in Canada will qualify as a public corporation, for purposes of subparagraph 89(1)(g)(i) of the Income Tax Act, (the "Act"), if a class of shares of the corporation is listed on a prescribed stock exchange in Canada.  As a consequence thereof, common shares of the public corporation will be qualified investments for registered retirement savings plans as prescribed by paragraph 4900(1)(b) of the Regulations, notwithstanding that the common shares are not listed on a prescribed stock exchange.

We trust the above comments will be of assistance to you.

Yours truly,

for DirectorFinancial Industries DivisionRulings Directorate