Canada Disability Savings Act (S.C. 2007, c. 35, s. 136)
Full Document:
Act current to 2012-05-02 and last amended on 2011-06-26. Previous Versions
Canada Disability Savings Act
S.C. 2007, c. 35, s. 136
Assented to 2007-12-14
An Act to encourage savings for persons with disabilities
[Enacted by section 136 of chapter 35 of the Statutes of Canada, 2007, in force December 1, 2008, see SI/2008-63.]
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the Canada Disability Savings Act.
INTERPRETATION
Marginal note:Definitions
2. (1) The following definitions apply in this Act.
“Canada Disability Savings Bond”
« bon canadien pour l’épargne-invalidité »
“Canada Disability Savings Bond” means the bond payable or paid under section 7.
“Canada Disability Savings Grant”
« subvention canadienne pour l’épargne-invalidité »
“Canada Disability Savings Grant” means the grant payable or paid under section 6.
“child tax benefit”
« prestation fiscale pour enfants »
“child tax benefit” means a deemed overpayment under Subdivision a.1 of Division E of Part 1 of the Income Tax Act.
- “contribution”
“contribution”[Repealed, 2010, c. 12, s. 26]
“family income”
« revenu familial »
“family income” means the income determined by the Minister in accordance with the definition “adjusted income” in section 122.6 of the Income Tax Act by using the information provided by the Minister of National Revenue for that purpose.
“first threshold”
« premier seuil »
“first threshold” for a particular year means the dollar amount referred to in paragraph 117(2)(a) of the Income Tax Act, as adjusted under that Act for the particular year.
“phase-out income”
« revenu de transition »
“phase-out income” for a particular year means the amount determined by the formula
A – (B/0.122)
where
- A
- is the first threshold for the particular year, and
- B
- is the amount referred to in paragraph (a) of the description of F in subsection 122.61(1) of the Income Tax Act, as adjusted under that Act for the particular year.
“second threshold”
« deuxième seuil »
“second threshold” for a particular year means the higher dollar amount referred to in paragraph 117(2)(b) of the Income Tax Act, as adjusted under the Act for the particular year.
Marginal note:Income Tax Act expressions
(2) Unless a contrary intention appears, in this Act
(a) the expressions “adjusted income”, “eligible individual” and “qualified dependant” have the same meanings as in section 122.6 of the Income Tax Act;
(b) the expressions “contribution”, “designated provincial program”, “DTC-eligible individual”, “holder”, “issuer”, “registered disability savings plan”, “specified year” and “specified disability savings plan” have the same meanings as in section 146.4 of that Act; and
(c) any other expression has the same meaning as in that Act.
- 2007, c. 35, s. 136 “2”;
- 2010, c. 12, s. 26, c. 25, s. 166;
- 2011, c. 15, s. 4.