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Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act (S.C. 2011, c. 15)

Assented to 2011-06-26

Marginal note:2010, c. 25, s. 167(1)

5. The portion of subsection 6(2.2) of the Act before paragraph (a) is replaced by the following:

  • 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 and in which the plan was not a specified disability savings plan (other than a year in which the plan became a specified disability savings plan) — in the following order:

6. Section 8 of the Act is amended by striking out “and” at the end of paragraph (a), by adding “and” at the end of paragraph (b) and by adding the following after paragraph (b):

  • (c) the plan is not a specified disability savings plan, in the case of a Canada Disability Savings Grant, at the time the contribution to the plan is made and, in the case of a Canada Disability Savings Bond, immediately before the payment is made.

Marginal note:SOR/2008-186

Canada Disability Savings Regulations

7. The definition “assistance holdback amount” in section 1 of the Canada Disability Savings Regulations is replaced by the following:

“assistance holdback amount”

“assistance holdback amount” means, at a particular time,

  • (a) in the case of an RDSP that is, at the particular time, a specified disability savings plan, nil; and

  • (b) in any other case, the total amount of bonds and grants paid into an RDSP within the 10-year period before the particular time, less any amount of bond or grant paid in that 10-year period that has been repaid to the Minister. (montant de retenue)

8. Section 5 of the Regulations is amended by adding the following after subsection (2):

  • (3) Despite subsections (1) and (2), if the beneficiary of an RDSP that is a specified disability savings plan dies or ceases to be a DTC-eligible individual, the issuer of the RDSP shall repay to the Minister, within the period set out in the issuer agreement, any portion of an amount paid into the RDSP as a grant or bond within the 10-year period preceding the time of the death or cessation that remains in the RDSP at that time.

PART 2

MEASURES RELATING TO EXCISE DUTIES AND SALES AND EXCISE TAXES

Marginal note:2002, c. 22

Excise Act, 2001

Marginal note:2007, c. 18, s. 67(4)

9. The definition “listed international agreement” in section 2 of the Excise Act, 2001 is replaced by the following:

“listed international agreement”

« accord international désigné »

“listed international agreement” means

  • (a) the Convention on Mutual Administrative Assistance in Tax Matters, concluded at Strasbourg on January 25, 1988, as amended from time to time by a protocol, or other international instrument, as ratified by Canada; or

  • (b) a comprehensive tax information exchange agreement that Canada has entered into and that has effect, in respect of another country or jurisdiction.