Canada Disability Savings Regulations (SOR/2008-186)

Regulations are current to 2012-05-14 and last amended on 2011-06-26. Previous Versions

Canada Disability Savings Regulations

SOR/2008-186

CANADA DISABILITY SAVINGS ACT

Registration 2008-06-05

Canada Disability Savings Regulations

P.C. 2008-1005 2008-06-05

Her Excellency the Governor General in Council, on the recommendation of the Minister of Human Resources and Skills Development, pursuant to section 17 of the Canada Disability Savings ActFootnote a, hereby makes the annexed Canada Disability Savings Regulations.

INTERPRETATION

1. The following definitions apply in these Regulations.

“Act”

“Act” means the Canada Disability Savings Act. (Loi)

“assistance holdback amount”

“assistance holdback amount” means, at a particular time,

  • (a) in the case of an RDSP that is, at the particular time, a specified disability savings plan, nil; and

  • (b) in any other case, the total amount of bonds and grants paid into an RDSP within the 10-year period before the particular time, less any amount of bond or grant paid in that 10-year period that has been repaid to the Minister. (montant de retenue)

“bond”

“bond” means a Canada Disability Savings Bond. (bon)

“grant”

“grant” means a Canada Disability Savings Grant. (subvention)

“issuer agreement”

“issuer agreement” means an agreement entered into by the Minister and an issuer of an RDSP that relates to the payment of a grant or bond. (convention d’émetteur)

“RDSP”

“RDSP” means a registered disability savings plan under section 146.4 of the Income Tax Act. (REEI)

  • 2011, c. 15, s. 7.
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REQUIREMENTS FOR PAYMENT OF GRANT

2. The Minister may pay a grant into an RDSP in respect of a contribution made to and not withdrawn from the RDSP if

  • (a) the issuer enters into an issuer agreement with the Minister that applies to the RDSP and includes the terms and conditions set out in section 4;

  • (b) the issuer submits, at the request of the holder of the RDSP, an application for the grant to the Minister

    • (i) for a contribution made before 2010, no later than June 30, 2010, and

    • (ii) for a contribution made in 2010 or later, no later than 180 days after the day on which the contribution is made;

  • (c) the beneficiary is less than 49 years of age at the end of the year preceding the year in which the contribution is made;

  • (d) the total of the contribution and all other contributions made to an RDSP of the beneficiary does not exceed $200,000;

  • (e) the beneficiary is a DTC-eligible individual in respect of the year in which the contribution is made; and

  • (f) in the opinion of the Minister, the issuer complies with the requirements of these Regulations and the terms and conditions of the issuer agreement that applies to the RDSP.