CPA Canada’s response to Finance Canada’s proposed changes to RRSPs and RRIFs

Learn about Chartered Professional Accountants of Canada (CPA Canada)’s submission to the federal government about its legislative proposals for registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs).

Get your downloadable electronic copy.

Download Now

CPA Canada has provided feedback to Finance Canada regarding its legislative proposals contained in Bill C-13 that propose extending the anti-avoidance provisions in the context of tax-free saving accounts to RRSPs and RRIFs. Developed by the Joint Committee on Taxation of the Canadian Bar Association and CPA Canada, this October 28, 2011 submission paper raises concerns about the nature and scope of the legislative proposals, and provides several recommendations on how to make them more effective.

What you will learn

Committee members provide their expert insights on the following aspects of the legislative proposals:

  • grandfathering provisions
  • 100 per cent advantage tax for all income or gains
  • 10 per cent significant interest test
  • "open market" requirement
  • swap transactions