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Income Tax Regulations

Version of section 219 from 2023-01-01 to 2024-05-28:

  •  (1) An issuer of a FHSA shall make an information return for each calendar year in prescribed form and manner in respect of the FHSA.

  • (2) An issuer of a FHSA shall make an information return in prescribed form and manner in respect of any calendar year in which one or more of the following occurs:

    • (a) the holder makes a contribution to the FHSA;

    • (b) an amount has been transferred to the FHSA from an RRSP under which the holder is an annuitant;

    • (c) an amount is required to be included in the income of a taxpayer under section 146.6 of the Act;

    • (d) the holder makes a qualifying withdrawal from the FHSA; or

    • (e) the holder designates an amount under the definition designated amount in subsection 207.01(1) of the Act.

  • (3) An issuer of a FHSA that governs a trust shall notify the holder of the FHSA in prescribed form and manner before March of a calendar year if, at any time during the preceding calendar year,

    • (a) the trust acquires or disposes of property that is a non-qualified investment (as defined in subsection 207.01(1) of the Act) for the trust; or

    • (b) property held by the trust becomes or ceases to be a non-qualified investment (as defined in subsection 207.01(1) of the Act) for the trust.

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • 2022, c. 19, s. 76

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