Tax wiki
s. 207.021
PART XI.01 — Taxes in Respect of Registered Plans
Tax payable on excess FHSA amount
Not yet annotated · Text current to 2026-06-21 · section last amended 2023-04-01
Current text
If, at any time in a calendar month, an individual has an excess FHSA amount, the individual shall, in respect of that month, pay a tax under this Part equal to 1% of the highest such amount in that month.
Source: Justice Laws Website. Not an official version.
Historic text
This section has not been amended since it was enacted (2022, c. 19, s. 51), so there is no earlier version.
Earlier versions: Justice Laws point-in-time versions of the Act (from 31 August 2004), and CanLII (under “Versions”). On Justice Laws, each version of section 207.021 links to the one before it.
Enacting and amending legislation
- 2022, c. 19, s. 51
Text before 2004 is found in the annual Statutes of Canada cited above. Application and coming-into-force provisions are not part of the consolidation; see the amending Acts.
Cross-references
Citation
Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 207.021.