A-13.1.1, r. 1 - Individual and Family Assistance Regulation

Section 177.101 Disposition versions

2023-01-01

177.101. Liquid assets include everything that an adult or the adult’s spouse owns in cash or in an equivalent form and the value of assets that may be converted into cash in the short term such as

(1)  sums, whether demand deposits or term deposits, that a financial institution holds on deposit for the adult or spouse or sums it holds on behalf of the adult or spouse if they have ready access to the sums;

(2)  securities the adult or spouse owns if the securities are currently traded on the market;

(3)  debts for which the adult or spouse may obtain immediate repayment; and

(4)  any assets negotiable at sight.

Liquid assets include the value of a term deposit made on behalf of an adult or the adult’s spouse, even if they do not have ready access to the funds, if the deposit is made while the adult is a recipient under a last resort financial assistance program, the Aim for Employment Program or the Basic Income Program or to qualify the adult under such a program.

Section 177.92 applies where the adult is a co-owner of liquid assets, with the necessary modifications.

O.C. 1140-2022, s. 45.