Hyperlawhypertext legal database Income Tax Act

← Historical versions

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

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.

  1. 2024-06-20 to present available View Source
    the amount determined by the formula$8,000 + D − (E − F − G)F) where D is the amount of the FHSA carryforward for the taxation year;year, E is the totaltaxpayer’s net RRSP-to-FHSA transfer amount at the end of all amounts transferred in the year or a preceding taxation year under paragraph 146(16)(a.2) to a FHSA under which the taxpayer is the holder,year, and F is the total of all amounts, each of which is an amount determined in respect of each preceding taxation year that is if the taxpayer had not started their maximum participation period in the preceding taxation year, nil, or in any other case, the lesser of the amount determined by the formula HG − IH where HG is the amount determined for E in the preceding taxation year, and IH is the amount determined for F in the preceding taxation year, and$8,000 plus the amount of the FHSA carryforward for the preceding taxation year, and G is the total of all designated amounts described in paragraph (a) of the definition designated amount in subsection 207.01(1), and
    Full text

    the amount determined by the formula$8,000 + D − (E − F) where D is the amount of the FHSA carryforward for the taxation year, E is the taxpayer’s net RRSP-to-FHSA transfer amount at the end of the taxation year, and F is the total of all amounts, each of which is an amount determined in respect of each preceding taxation year that is if the taxpayer had not started their maximum participation period in the year, nil, or in any other case, the lesser of the amount determined by the formula G − H where G is the amount determined for E in the year, and H is the amount determined for F in the year, and$8,000 plus the amount of the FHSA carryforward for the year, and

  2. 2023-04-01 to 2024-06-20 View Source

    the amount determined by the formula$8,000 + D − (E − F − G) where D is the amount of the FHSA carryforward for the taxation year; E is the total of all amounts transferred in the year or a preceding taxation year under paragraph 146(16)(a.2) to a FHSA under which the taxpayer is the holder, and F is the total of all amounts, each of which is an amount determined in respect of each preceding taxation year that is if the taxpayer had not started their maximum participation period in the preceding taxation year, nil, or in any other case, the lesser of the amount determined by the formula H − I where H is the amount determined for E in the preceding taxation year, and I is the amount determined for F in the preceding taxation year, and$8,000 plus the amount of the FHSA carryforward for the preceding taxation year, and G is the total of all designated amounts described in paragraph (a) of the definition designated amount in subsection 207.01(1), and