PART XI.01 — Taxes in Respect of Registered Plans

Survivor as successor holder

Not yet annotated · Text current to 2026-06-21 · section last amended 2023-04-01

Current text

If an individual’s survivor becomes the holder of a FHSA as a consequence of the individual’s death and, immediately before the individual’s death, the individual had an excess FHSA amount, the survivor is deemed to have made, at the beginning of the month following the individual’s death, a contribution under a FHSA equal to the amount, if any, by which

(a)

that excess FHSA amount

exceeds

(b)

the total fair market value immediately before the individual’s death of all property held under the FHSAs of the individual (other than a FHSA in respect of which the survivor became the successor holder as a consequence of the individual’s death).

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 207.022 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

No other section of the Act refers to this section, and it refers to no other section.

References are generated from the statutory text and list other sections of the Act only.

Citation

Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 207.022.