Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
I-3 - Taxation Act
Section 935.1
Disposition versions
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993;
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994; and
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount”;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual;
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death; or
(d) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be a regular eligible amount if section 935.2.1 were read without reference to subparagraph iii of its paragraph a,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant, and
iii. the payment is made before the end of the second calendar year after the calendar year that includes the particular time referred to in section 935.2.1;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada; or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $35,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that subsection were read without reference to its paragraph c;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $35,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993;
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994; and
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount”;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual;
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada; or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that subsection were read without reference to its paragraph c;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993;
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994; and
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount” ;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual;
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada; or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that subsection were read without reference to its paragraph c;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993;
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994; and
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount” ;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual;
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada; or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that section were read without reference to paragraph c of subsection 1 of that section;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $25,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993, and
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994, and;
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount” ;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual, or
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada, or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $20,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that section were read without reference to paragraph c of subsection 1 of that section;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $20,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
935.1. In this Title,
“annuitant” has the meaning assigned by paragraph b of section 905.1;
“benefit” has the meaning assigned by paragraph a of section 905.1;
“completion date”, in respect of an amount received by an individual, means
(a) where the amount was received before 2 March 1993, 1 October 1993, and
(b) where the amount was received after 1 March 1993 and before 2 March 1994, 1 October 1994, and;
(c) in any other case, 1 October of the calendar year following the calendar year in which the amount was received;
“designated withdrawal” of an individual is an amount received by the individual, as a benefit out of or under a registered retirement savings plan, pursuant to the individual’s written request in the prescribed form referred to in paragraph a of the definition of “eligible amount” as that definition read in its application to amounts received before 1 January 1999, paragraph a of the definition of “regular eligible amount” or paragraph a of the definition of “supplemental eligible amount” ;
“eligible amount” of an individual means a regular eligible amount or supplemental eligible amount of the individual;
“excluded withdrawal” of an individual means
(a) an eligible amount received by the individual, or
(b) a particular amount, other than an eligible amount, received while the individual was resident in Canada and in a calendar year if
i. the particular amount would be an eligible amount of the individual if the definition of “regular eligible amount” were read without reference to paragraphs c and g thereof and the definition of “supplemental eligible amount” were read without reference to paragraphs d and f thereof,
ii. a payment, other than an excluded premium, equal to the particular amount is made by the individual under a retirement savings plan that is, at the end of the taxation year of the payment, a registered retirement savings plan under which the individual is the annuitant,
iii. the payment is made before the particular time that is
(1) if the individual was not resident in Canada at the time the individual filed a fiscal return for the taxation year in which the particular amount was received, the earlier of the end of the following calendar year and the time at which the individual filed the fiscal return,
(2) where subparagraph 1 does not apply and the particular amount would, if subparagraph 1 of subparagraph ii of subparagraph c of the first paragraph of section 935.2 were read without the words “and the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home before the day that is one year after that completion date”, be an eligible amount, the end of the second following calendar year, and
(3) in any other case, the end of the following calendar year, and
iv. either
(1) if the particular time is before 1 January 2000, the payment is made, as a repayment of the particular amount, to the issuer of a registered retirement savings plan from which the particular amount was received, no other payment is made as a repayment of the particular amount and that issuer is notified of the payment in a prescribed form submitted to the issuer at the time the payment is made, or
(2) the payment is made after 31 December 1999 and before the particular time and the payment, and no other payment, is designated under this subparagraph as a repayment of the particular amount in a prescribed form filed with the Minister on or before the particular time or before such later time as is acceptable to the Minister; or
(c) an amount, other than an eligible amount, that is received in a calendar year before the calendar year 1999 and that would be an eligible amount of the individual if the definition of “eligible amount”, as it applied to amounts received before 1 January 1999, were read without reference to paragraphs c and e thereof, where the individual
i. died before the end of the following calendar year, and
ii. was resident in Canada throughout the period that began immediately after the amount was received and ended at the time of the death;
“issuer” has the meaning assigned by paragraph c of section 905.1;
“participation period” of an individual means each period that begins at the beginning of a calendar year in which the individual receives an eligible amount and that ends immediately before the beginning of the first subsequent calendar year at the beginning of which the individual’s specified balance is nil;
“qualifying home” means
(a) a housing unit located in Canada, or
(b) a share of the capital stock of a housing cooperative, the holder of which is entitled to possession of a housing unit located in Canada;
“quarter” means any of the following periods in a calendar year:
(a) the period beginning on 1 January and ending on 31 March,
(b) the period beginning on 1 April and ending on 30 June,
(c) the period beginning on 1 July and ending on 30 September, and
(d) the period beginning on 1 October and ending on 31 December;
“regular eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form in which the individual sets out the location of a qualifying home that the individual has begun, or intends not later than one year after its acquisition by the individual to begin, using as a principal place of residence;
(b) the individual entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(c) the individual acquires the qualifying home or a replacement property for the qualifying home before the completion date in respect of the amount received by the individual, or dies before the end of the calendar year that includes the completion date in respect of the amount;
(d) neither the individual nor the individual’s spouse acquired the qualifying home more than 30 days before the particular time;
(e) the individual did not have an owner-occupied home in the period that began on the first day of the fourth preceding calendar year that included the particular time, and that ended on the 31st day before the particular time;
(f) the individual’s spouse did not, in the period referred to in paragraph e, have an owner-occupied home that was inhabited by the individual during the spouse’s marriage to the individual, or that was a share of the capital stock of a housing cooperative that relates to a housing unit inhabited by the individual during the spouse’s marriage to the individual;
(g) the individual
i. acquired the qualifying home before the particular time and is resident in Canada at the particular time, or
ii. is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual acquires the qualifying home or a replacement property for the qualifying home;
(h) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $20,000; and
(i) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil;
“replacement property” for a particular qualifying home in respect of an individual, or of a specified disabled person in respect of the individual, means another qualifying home that
(a) the individual or the specified disabled person agrees to acquire, or begins the construction of, at a particular time that is after the latest time that the individual made a request described in the definition of “designated withdrawal” in respect of the particular qualifying home;
(b) at the particular time, the individual intends to be used by the individual or the specified disabled person as a principal place of residence not later than one year after its acquisition; and
(c) none of the individual, the individual’s spouse, the specified disabled person or that person’s spouse had acquired before the particular time;
“specified balance” of an individual at any time means the amount by which the aggregate of all eligible amounts received by the individual at or before that time exceeds the aggregate of all amounts designated under section 935.3 by the individual for taxation years that ended before that time, and all amounts each of which is included under sections 935.4 and 935.5 in computing the individual’s income for a taxation year that ended before that time;
“specified disabled person”, in respect of an individual at any time, means a person who
(a) is the individual or is related at that time to the individual; and
(b) would be entitled to a deduction under subsection 1 of section 118.3 of the Income Tax Act in computing the person’s tax payable under Part I of this Act for the person’s taxation year that includes that time if that section were read without reference to paragraph c of subsection 1 of that section;
“supplemental eligible amount” of an individual means an amount received at a particular time by the individual as a benefit out of or under a registered retirement savings plan if
(a) the amount is received pursuant to the individual’s written request in a prescribed form identifying a specified disabled person in respect of the individual and setting out the location of a qualifying home that has begun to be used by that person as a principal place of residence, or that the individual intends to be used by that person as a principal place of residence not later than one year after its first acquisition after the particular time;
(b) the purpose of receiving the amount is to enable the specified disabled person to live in a dwelling that is more accessible by that person or in which that person is more mobile or functional, or in an environment better suited to the personal needs and care of that person;
(c) the individual or the specified disabled person entered into an agreement in writing before the particular time for the acquisition of the qualifying home or with respect to its construction;
(d) either
i. the individual or the specified disabled person acquires a qualifying home or a replacement property for the qualifying home after 31 December 1998 and before the completion date in respect of the amount received by the individual, or
ii. the individual dies before the end of the calendar year that includes the completion date in respect of the amount received by the individual ;
(e) none of the individual, the spouse of the individual, the specified disabled person or the spouse of that person acquired the qualifying home more than 30 days before the particular time;
(f) either
i. the individual or the specified disabled person acquired the qualifying home before the particular time and the individual is resident in Canada at the particular time, or
ii. the individual is resident in Canada throughout the period that begins at the particular time and ends at the earlier of the time of the individual’s death and the earliest time at which the individual or the specified disabled person acquires the qualifying home or a replacement property for the qualifying home;
(g) the aggregate of the amount and all other eligible amounts received by the individual in the calendar year that includes the particular time does not exceed $20,000; and
(h) the individual’s specified balance at the beginning of the calendar year that includes the particular time is nil.
In this Title, a reference to a qualifying home that is a share described in paragraph b of the definition of “qualifying home” in the first paragraph means, where the context so requires, the housing unit to which that share relates.
