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ontario regulation 27/09

made under the

social housing reform act, 2000

Made: January 22, 2009
Filed: January 27, 2009
Published on e-Laws: January 28, 2009
Printed in The Ontario Gazette: February 14, 2009


Amending O. Reg. 298/01

(Rent-Geared-to-Income Assistance and Special Needs Housing)

1. Subsection 8 (12) of Ontario Regulation 298/01 is amended by adding the following paragraph:

23. Funds held in a Registered Disability Savings Plan, as defined in subsection 146.4 (1) of the Income Tax Act (Canada), established for the benefit of a member of the household.

2. (1) Subsection 50 (3) of the Regulation is amended by adding the following paragraphs:

16.1 A payment made by the Government of Canada under the Canada Disability Savings Act

that is paid into a Registered Disability Savings Plan established for the benefit of a member of the family unit.

16.2 Subject to subsection (4.1), a gift or voluntary payment received for the purpose of making a contribution to a Registered Disability Savings Plan, if the gift or payment is contributed as soon as practicable into a Registered Disability Savings Plan established for the benefit of a member of the family unit.

16.3 Interest, dividends or any other income accrued in a Registered Disability Savings Plan established for the benefit of a member of the family unit.

16.4 Payments from a Registered Disability Savings Plan established for the benefit of a member of the family unit.

(2) Subsection 50 (4) of the Regulation is amended by striking out “excluded under paragraph 19 or 20” and substituting “excluded under paragraph 16.3, 19 or 20”.

(3) Section 50 of the Regulation is amended by adding the following subsection:

(4.1) The exemption from income under paragraph 16.2 of subsection (3) does not include gifts or payments contributed to a Registered Disability Savings Plan if the contributions fail to comply with the condition required under subparagraph 146.4 (4) (g) (iii) of the Income Tax Act (Canada).

(4) Subsection 50 (5) of the Regulation is amended by striking out “Canada Customs and Revenue Agency” and substituting “Canada Revenue Agency”.

(5) Subsection 50 (8) of the Regulation is revoked and the following substituted:

(8) A non-income-producing Registered Retirement Savings Plan, Registered Education Savings Plan or Registered Disability Savings Plan shall not be included in non-income producing assets for the purpose of subclause (1) (a) (ii).

3. This Regulation comes into force on the day it is filed.

 

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