6 March 1991 Income Tax Severed Letter

By services, 22 July, 2022
Language
English
Document number
Severed letter type
Miscellaneous
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
657449
Extra import data
{
"field_external_guid": [
"menu:://Federal Income Tax [CCH Tax ]/Tax Window Files/Tax Window Files/Tax Window Files/1990s/1991 [MR91_194.197 - FE91_224.226]/MR91_338 — Qualified Investments for RRSP"
],
"field_proprietary_citation": [],
"field_release_date_new": "1991-03-06 07:00:00",
"field_tags": []
}
Main text
5-910259
                                             M. Shea-DesRosiers
                                             (613) 957-8953
          19(1)

March 6, 1991

Dear Sir:

This is in reply to your letter of November 9, 1990 asking if 24(1)24(1) listed on the Toronto Stock Exchange are qualified investments for a Registered Retirement Savings Plan ("RRSP") trust.

In order for a warrant listed on the Toronto Stock Exchange to be
a qualified investment for an RRSP trust at a particular time, it
must at that time meet the other requirements of paragraph
4900(1)(e) of the Income Tax Regulations.  That is, the warrant
will be a qualified investment for an RRSP trust at a particular
time only if at that time it gives the trust the right to acquire
a property that, if the warrant were exercised at the particular
time, would be a qualified investment for the trust.  It is our
understanding that                 24(1)                          
                  and thus does not represent a qualified
investment for an RRSP trust.

We trust that our comments will be of assistance to you.

Yours truly,

for Director Financial Industries Division Rulings Directorate

000338