Income Tax Regulations (C.R.C., c. 945)

Regulations are current to 2014-10-27 and last amended on 2014-06-19. Previous Versions

Government-Sponsored Retirement Arrangements

Definitions

  •  (1) The definitions in this subsection apply in this section.

    “administrator”

    “administrator” means, in respect of a government-sponsored retirement arrangement, the government or other entity that has ultimate responsibility for the administration of the arrangement. (administrateur)

    “government-sponsored retirement arrangement”

    “government-sponsored retirement arrangement” means a plan or arrangement established to provide pensions directly or indirectly from the public money of Canada or a province to one or more individuals each of whom renders services in respect of which amounts that are included in computing the income from a business of any person or partnership are paid directly or indirectly from the public money of Canada or a province. (mécanisme de retraite sous régime gouvernemental)

Prescribed Amount

  • (2) Where

    • (a) in a particular calendar year after 1992 an individual renders services in respect of which an amount that is included in computing the income from a business of any person was payable directly or indirectly by the Government of Canada or of a province, and

    • (b) at the end of the particular year, the individual is entitled, either absolutely or contingently, to benefits under a government-sponsored retirement arrangement that provides benefits in connection with such services,

    there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions “RRSP deduction limit” and “unused RRSP deduction room” in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act,

    • (c) where the particular year is before 1996, the amount by which the RRSP dollar limit for that following year exceeds $1,000, and

    • (d) in any other case, the RRSP dollar limit for that following year.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/96-311, s. 8;
  • SOR/99-9, s. 13.

Prescribed Amount for Lieutenant Governors and Judges

  •  (1) Subject to subsection (3), where an individual is, at any time in a particular calendar year after 1989, a lieutenant governor of a province (other than a lieutenant governor who is not a contributor as defined in section 2 of the Lieutenant Governors Superannuation Act), there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions “RRSP deduction limit” and “unused RRSP deduction room” in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, the lesser of

    • (a) the amount, if any, by which 18% of the salary received by the individual for the particular year as a lieutenant governor exceeds the PA offset for the particular year, and

    • (b) the amount by which the money purchase limit for the particular year exceeds the PA offset for the particular year.

  • (2) Subject to subsection (3), where an individual is, at any time in a particular calendar year after 1990, a judge in receipt of a salary under the Judges Act, there is prescribed in respect of the individual for the year following the particular year, for the purposes of the descriptions of B in the definitions “RRSP deduction limit” and “unused RRSP deduction room” in subsection 146(1) of the Act and the description of B in paragraph 204.2(1.1)(b) of the Act, the lesser of

    • (a) the amount, if any, by which 18% of the portion of the salary received by the individual for the particular year under the Judges Act in respect of which contributions are required under subsection 50(1) or (2) of that Act exceeds the PA offset for the particular year; and

    • (b) the amount determined by the formula

      A × B / 12

      where

      A 
      is the amount by which the money purchase limit for the particular year exceeds the PA offset for the particular year, and
      B 
      is the number of months, in the particular year, for which the individual received salary in respect of which contributions were required under subsection 50(1) or (2) of the Judges Act.
  • (3) For the purpose of determining the amount prescribed under subsection (1) or (2) in respect of an individual for a calendar year after 2000 and before 2004,

    • (a) paragraph (1)(b) shall be read as follows:

      • “(b) the money purchase limit for the particular year.”, and

    • (b) the description of A in paragraph (2)(b) shall be read as follows:

      “A 
      is the money purchase limit for the particular year, and”.
  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending regulations. SOR/92-51, s. 7;
  • SOR/99-9, s. 14;
  • SOR/2001-339, s. 1;
  • SOR/2005-264, s. 23.