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Versions of s. 207.01(1), definition “excess fhsa amount”

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
    excess FHSA amount of an individual at a particular time in a taxation year means the amount determined by the formula A + B − C − D − E where A is the total of all amounts each of which is a contribution made to a FHSA by the individual at or before the particular time; B is the total of all amounts transferred under paragraph 146(16)(a.2), at or before the particular time, to a FHSA under which the individual is the holder; C is the lesser of$40,000, and the amount determined by the formula$8,000 + F + G + H − I where F is the amount of the FHSA carryforward for the taxation year, G is the total of all amounts each of which is a contribution made to a FHSA by the individual at or before the end of the immediately preceding taxation year, H is the total of all amounts transferred under paragraph 146(16)(a.2), at or before the end of the immediately preceding taxation year, to a FHSA under which the individual is the holder, and I is the excess FHSA amount determined at the end of the immediately preceding taxation year; D is the total of all amounts each of which is a designated amount in respect of a transfer or withdrawal made by the individual in the taxation year but before the particular time; and E is the total of all amounts required to be included in computing the income of the individual in the taxation year under subsection 146.6(6) or (17) at or before the particular time. (excédent de CELIAPP)
    Full text

    excess FHSA amount of an individual at a particular time in a taxation year means

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

    excess FHSA amount of an individual at a particular time in a taxation year means the amount determined by the formula A + B − C − D − E where A is the total of all amounts each of which is a contribution made to a FHSA by the individual at or before the particular time; B is the total of all amounts transferred under paragraph 146(16)(a.2), at or before the particular time, to a FHSA under which the individual is the holder; C is the lesser of$40,000, and the amount determined by the formula$8,000 + F + G + H − I where F is the amount of the FHSA carryforward for the taxation year, G is the total of all amounts each of which is a contribution made to a FHSA by the individual at or before the end of the immediately preceding taxation year, H is the total of all amounts transferred under paragraph 146(16)(a.2), at or before the end of the immediately preceding taxation year, to a FHSA under which the individual is the holder, and I is the excess FHSA amount determined at the end of the immediately preceding taxation year; D is the total of all amounts each of which is a designated amount in respect of a transfer or withdrawal made by the individual in the taxation year but before the particular time; and E is the total of all amounts required to be included in computing the income of the individual in the taxation year under subsection 146.6(6) or (17) at or before the particular time. (excédent de CELIAPP)