Income Tax Regulations

223 (1) Every person who, before May 23, 1985, pays an amount out of or under a registered home ownership savings plan to a resident of Canada as a beneficiary under the plan shall make an information return in prescribed form.

(2) Every trustee or depositary that is party to a registered home ownership savings plan the registration of which is revoked during a taxation year pursuant to subsection 146.2(7) or (7.1) of the Act shall make an information return in prescribed form with respect to any amount that is deemed by subsection 146.2(8) of the Act to have been received by the beneficiary of that plan.

(3) Every trustee or depositary that is party to a registered home ownership savings plan, the beneficiary of which is a resident of Canada and has been deemed by subsection 146.2(9) of the Act to have received an amount during a taxation year and before May 23, 1985, shall make an information return in prescribed form.

(3.1) Every trustee or depositary that, after May 22, 1985 and before 1986, was a party to a registered home ownership savings plan, any of the income of which is required by subsection 146.2(22) of the Act to be included in computing the income of a taxpayer for the 1985 taxation year, shall make an information return in prescribed form.

(4) Every trustee of a trust governed by a registered home ownership savings plan shall make an information return in prescribed form, where in a taxation year a taxpayer who is a beneficiary under the plan

• (a) is required pursuant to subsection 146.2(12) or (15) of the Act to include an amount in computing his income; or

• (b) is allowed pursuant to subsection 146.2(13) or (16) of the Act to deduct an amount in computing his income.

(5) In this section,

beneficiary

beneficiary has the meaning assigned by paragraph 146.2(1)(a) of the Act as it read in its application to the 1985 taxation year; (bénéficiaire)

depositary

depositary has the meaning assigned by subparagraph 146.2(1)(d)(ii) of the Act as it read in its application to the 1985 taxation year; (dépositaire)

registered home ownership savings plan

registered home ownership savings plan has the meaning assigned by paragraph 146.2(1)(h) of the Act as it read in its application to the 1985 taxation year. (régime enregistré d’épargne-logement)