Canada Education Savings Act (S.C. 2004, c. 26)
Full Document:
Assented to 2004-12-15
Canada Education Savings Act
S.C. 2004, c. 26
Assented to 2004-12-15
An Act to provide financial assistance for post-secondary education savings
SUMMARY
This enactment is intended to encourage the financing of post-secondary education through savings in registered education savings plans. It provides for the payment of Canada Education Savings grants in relation to contributions made to those plans. The amount of the grant is increased for children of lower- and middle-income families. It also provides for the payment of Canada Learning Bonds in respect of children of families receiving the National Child Benefit Supplement.
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the Canada Education Savings Act.
INTERPRETATION
Marginal note:Definitions
2. (1) The definitions in this subsection apply in this Act.
“Canada Learning Bond”
« bon d’études »
“Canada Learning Bond” means the bond payable or paid under section 6.
“CES grant”
« subvention pour l’épargne-études »
“CES grant” means a Canada Education Savings grant payable or paid under section 5 or under Part III.1 of the Department of Human Resources Development Act, as it read immediately before the coming into force of section 19 of this Act.
“child tax benefit”
« prestation fiscale pour enfants »
“child tax benefit” means a deemed overpayment under Subdivision a.1 of Division E of Part I of the Income Tax Act.
“national child benefit supplement”
« supplément de la prestation nationale pour enfants »
“national child benefit supplement” means that portion of a child tax benefit determined under the description of C in subsection 122.61(1) of the Income Tax Act.
“prescribed”
Version anglaise seulement“prescribed” means prescribed by regulations.
“primary caregiver”
« responsable »
“primary caregiver” means
(a) in the case of a beneficiary who is a qualified dependant in respect of whom a child tax benefit is payable, the eligible individual in respect of the beneficiary; and
(b) in the case of a beneficiary in respect of whom a special allowance is payable under the Children’s Special Allowances Act, the department, agency or institution that maintains the beneficiary.
Marginal note:Income Tax Act expressions
(2) Unless a contrary intention appears, in this Act
(a) the expressions “adjusted income”, “eligible individual” and “qualified dependant” have the meanings assigned by section 122.6 of the Income Tax Act;
(b) the expressions “beneficiary”, “contribution”, “promoter”, “registered education savings plan”, “subscriber” and “trust” have the meanings assigned by section 146.1 of the Income Tax Act; and
(c) any other expression has the meaning assigned by the Income Tax Act.
- Date modified:
