Versions of s. 146.6(1), definition “annual fhsa limit”, para (a)

I-3.3 — Income Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2026-03-26 to present available View Source

the amount determined by the formula A + B − C where A is the total of all contributions made to a FHSA in the year by the taxpayer (other than any contributions made after the taxpayer’s first qualifying withdrawal from a FHSA), B is if the taxpayer’s maximum participation period has not begun in a preceding taxation year, nil, and in any other case, the amount by which the amount determined under this paragraph for the preceding taxation year exceeds the annual FHSA limit for that taxation year, and C is the amount by which the total of all designated amounts described in paragraph (b) of the definition designated amount in subsection 207.01(1) for the ~~year,~~year exceeds the total of all contributions made to a FHSA by the taxpayer after the taxpayer’s first qualifying withdrawal from a FHSA,

Full text

the amount determined by the formula A + B − C where A is the total of all contributions made to a FHSA in the year by the taxpayer (other than any contributions made after the taxpayer’s first qualifying withdrawal from a FHSA), B is if the taxpayer’s maximum participation period has not begun in a preceding taxation year, nil, and in any other case, the amount by which the amount determined under this paragraph for the preceding taxation year exceeds the annual FHSA limit for that taxation year, and C is the amount by which the total of all designated amounts described in paragraph (b) of the definition designated amount in subsection 207.01(1) for the year exceeds the total of all contributions made to a FHSA by the taxpayer after the taxpayer’s first qualifying withdrawal from a FHSA,
2023-04-01 to 2026-03-26 View Source

the amount determined by the formula A + B − C where A is the total of all contributions made to a FHSA in the year by the taxpayer (other than any contributions made after the taxpayer’s first qualifying withdrawal from a FHSA), B is if the taxpayer’s maximum participation period has not begun in a preceding taxation year, nil, and in any other case, the amount by which the amount determined under this paragraph for the preceding taxation year exceeds the annual FHSA limit for that taxation year, and C is the total of all designated amounts described in paragraph (b) of the definition designated amount in subsection 207.01(1) for the year,