Canada Disability Savings Act

Marginal note:Canada Disability Savings Grants

• 6 (1) Subject to this Act and the regulations, on application, the Minister may, in respect of any contribution made to a registered disability savings plan of a beneficiary, pay a Canada Disability Savings Grant into the plan. The grant is to be paid on any terms and conditions that the Minister may specify by agreement between the Minister and the issuer of the plan.

• Marginal note:Amount of grant

  (2) The amount of a Canada Disability Savings Grant that may be paid for a particular year is equal to

  • (a) 300% of the part of the total contributions made in the particular year that is less than or equal to $500, and 200% of the part of those contributions that is more than $500 but less than or equal to $1,500, if the beneficiary is

    • (i) an individual who is at least 18 years of age on December 31 of the year preceding the particular year and whose family income for the particular year is less than or equal to $74,357,

    • (ii) a qualified dependant of an eligible individual whose adjusted income used to determine the amount of a child tax benefit in respect of January in the particular year is less than or equal to $74,357, or

    • (iii) a person in respect of whom a special allowance under the Children’s Special Allowances Act is payable for at least one month in the particular year; or

  • (b) 100% of the total contributions made in the particular year, up to a maximum of $1,000, in any other case.

• Marginal note:Family income

  (3) For the purposes of subparagraph (2)(a)(i), the family income for a particular year is that income determined for the year that ended on December 31 of the second preceding year.

• Marginal note:No determination for January

  (4) If there has been no determination of eligibility for a child tax benefit in respect of January in a particular year, the adjusted income to be used for the purposes of subparagraph (2)(a)(ii) is the adjusted income used to determine the amount of a child tax benefit for the first month in the particular year in respect of which eligibility has been established.

• Marginal note:Beneficiary born in December

  (5) In applying subsection (4) in respect of a beneficiary born in December, the reference to “the first month in the particular year in respect of which eligibility has been established” in that subsection is to be read as a reference to “January of the next year”.

• Marginal note:Indexing

  (6) The amount of $74,357 referred to in paragraph (2)(a) is to be adjusted, as set out in section 117.1 of the Income Tax Act, for each year after 2007.

• Marginal note:Lifetime cap

  (7) Not more than $70,000 in Canada Disability Savings Grants may be paid in respect of a beneficiary during their lifetime.