Income Tax Act — I-3.3 204.9
Definitions 204.9 (1) The definitions in this subsection apply in this Part. excess amount for a year at any time in respect of an individual means (a) for years before 2007, the amount, if any, by which the total of all contributions made after February 20, 1990 in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual exceeds the lesser of (i) the RESP annual limit for the year, and (ii) the amount, if any, by which the RESP lifetime limit for the year exceeds the total of all contributions made into registered education savings plans by or on behalf of all subscribers in respect of the individual in all preceding years; and (b) for years after 2006, the amount, if any, by which the total of all contributions made in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual exceeds the amount, if any, by which (i) the RESP lifetime limit for the year exceeds (ii) the total of all contributions made into registered education savings plans by or on behalf of all subscribers in respect of the individual in all preceding years. ( excédent ) RESP lifetime limit for a year means (a) for 1990 to 1995, $31,500; (b) for 1996 to 2006, $42,000; and (c) for 2007 and subsequent years, $50,000. ( plafond cumulatif de REEE ) subscriber’s gross cumulative excess at any time in respect of an individual means the total of all amounts each of which is the subscriber’s share of the excess amount for a relevant year at that time in respect of the individual and, for the purpose of this definition, a relevant year at any time is a year that began before that time. ( excédent cumulatif brut du souscripteur ) subscriber’s share of the excess amount for a year at any time in respect of an individual means the amount determined by the formula (A/B) × C where A is the total of all contributions made after February 20, 1990, in the year and before that time into all registered education savings plans by or on behalf of the subscriber in respect of the individual; B is the total of all contributions made after February 20, 1990, in the year and before that time into all registered education savings plans by or on behalf of all subscribers in respect of the individual; and C is the excess amount for the year at that time in respect of the individual. ( part du souscripteur sur l’excédent ) Application of s. 146.1(1) (1.1) The definitions in subsection 146.1(1) apply to this Part. Agreements before February 21, 1990 (2) Where a subscriber is required, pursuant to an agreement in writing entered into before February 21, 1990, to make payments of specified amounts on a periodic basis into a registered education savings plan in respect of a beneficiary, and the subscriber makes at least one payment under the agreement before that day, (a) the excess amount for a year in respect of the beneficiary shall be deemed not to exceed the excess amount for the year that would be determined under subsection 204.9(1) if the total of all such payments made in the year and, where the agreement so provides, amounts paid in the year in satisfaction of the requirement to make such payments under all such agreements by all such subscribers in respect of the beneficiary were equal to the lesser of the amounts described in paragraphs (a) and (b) of the definition excess amount in subsection 204.9(1); and (b) in determining a subscriber’s share of an excess amount for a year, any payment included in the total described in paragraph 204.9(2)(a) in respect of the year shall be excluded in determining the values for A and B in the definition subscriber’s share of the excess amount in subsection 204.9(1). Refunds from unregistered plans (3) For the purposes of subsection 204.9(1) and section 146.1, where an individual entered into an education savings plan before February 21, 1990, pursuant to a preliminary prospectus iss