Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues: Are there restrictions in respect of investments that may be held by an RESP?
Position: NO
Reasons: The Act does not restrict the investments that may be held by an RESP
XXXXXXXXXX 981020
M. P. Sarazin
Attention: XXXXXXXXXX
July 6, 1998
Dear Sirs:
Re: Investments held by a Registered Education Savings Plan (“RESP”)
This is in reply to your letter dated April 21, 1998, wherein you requested our views as to whether the Income Tax Act (the “Act”) restricts the investments that can be held by an RESP. In particular, you would like to know whether an RESP can acquire and hold shares of various corporations and options to acquire shares of various corporations.
Section 146.1 of the Act does not contain any provisions that restrict the investments that can be acquired by an RESP. Consequently, an RESP can acquire any property, including shares and options to acquire shares of corporations.
We trust the above comments will be of assistance to you.
Yours truly,
Paul Lynch
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1998
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1998
Email this Content