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Sustaining Canada’s Economic Recovery Act (S.C. 2010, c. 25)

Assented to 2010-12-15

Coming into Force

Marginal note:Order in council

165. This Part, other than sections 163 and 164, comes into force on a day to be fixed by order of the Governor in Council.

PART 5

Marginal note:2007, c. 35, s. 136

CANADA DISABILITY SAVINGS ACT

Amendments to the Act

Marginal note:2010, c. 12, s. 26(3)

166. Paragraph 2(2)(b) of the Canada Disability Savings Act is replaced by the following:

  • (b) the expressions “contribution”, “designated provincial program”, “DTC-eligible individual”, “holder”, “issuer” and “registered disability savings plan” have the same meanings as in section 146.4 of that Act; and

  • 167. (1) Section 6 of the Act is amended by adding the following after subsection (2):

    • Marginal note:Deemed year of contribution

      (2.1) For the purposes of subsection (2), a contribution allocated to a year under subsection (2.2) is deemed to have been made in that year.

    • Marginal note:Allocation of contribution

      (2.2) The Minister may allocate a contribution made to the beneficiary’s registered disability savings plan in a year after 2010, in parts — to the year in which it is actually made and to each of the previous 10 years that is after 2007 — in the following order:

      • (a) up to $500 to each year in which the beneficiary is one referred to in paragraph (2)(a), beginning with the earliest year, less any contributions allocated to the year in question;

      • (b) up to $1500 to each year in which the beneficiary is one referred to in paragraph (2)(a), beginning with the earliest year, less any contributions allocated to the year in question including those so allocated under paragraph (a); and

      • (c) up to $1000 to each year in which the beneficiary is not one referred to in paragraph (2)(a), beginning with the earliest year, less any contributions allocated to the year in question.

    • Marginal note:Residency and DTC-eligibility

      (2.3) No contribution made to the plan in a year may be allocated to a previous year unless, during that previous year, the beneficiary was resident in Canada and a DTC-eligible individual.

    • Marginal note:Limit

      (2.4) The Minister may allocate only the portion of contributions made to the plan in a year in respect of which, in accordance with subsection (2), a Canada Disability Savings Grant of up to $10,500 may be paid into the plan in that year.

    • Marginal note:Contributions made before 2011

      (2.5) For the purposes of determining the contributions allocated to the year in question under any of paragraphs (2.2)(a) to (c), contributions made to the plan in 2008, 2009 or 2010 are considered to have been allocated to the year in which they were actually made.

  • (2) Section 6 of the Act is amended by adding the following after subsection (7):

    • Marginal note:Annual cap

      (8) Not more than $10,500 in Canada Disability Savings Grants may be paid in respect of a beneficiary in a year.

    • Marginal note:Annual statement to plan holders

      (9) Once a year, the Minister shall cause each holder of a registered disability savings plan to be provided with a statement that sets out the amount of Canada Disability Savings Grants that may be paid for particular years on the basis of future contributions.