CRA ADVANTAGE RULES FOR REGISTERED PLANS
The Canada Revenue Agency (CRA) has published for comment Tax Folio S3-F10-C3 pertaining to the ‘Advantage’ Rules for registered plans such as RRSPs, RRIFs and TFSAs. The Tax Folio focuses on what constitutes an ‘Advantage’ and the investment restrictions placed on registered plans. The Tax Folio incorporates items previously addressed in CRA Technical Interpretation and addresses items such as the rebating of mutual fund commissions, swap transactions, and fee waivers. The IIAC is reviewing the draft Tax Folio with members to determine the need for industry comment.
For more information contact Jack Rando.