Income Tax Act — I-3.3 146.4
(1)(c) be deductible, under section 118.3 in computing a taxpayer’s tax payable under this Part for the taxation year. ( particulier admissible au CIPH ) holder of a disability savings plan at any time means each of the following: (a) an entity that has, at that time, rights as an entity with whom the issuer entered into the plan; (b) an entity that has, at that time, rights as a successor or assignee of an entity described in paragraph (a) or in this paragraph; and (c) the beneficiary if, at that time, the beneficiary is not an entity described in paragraph (a) or (b) and has rights under the plan to make decisions (either alone or with other holders of the plan) concerning the plan, except where the only such right is a right to direct that disability assistance payments be made as provided for in subparagraph (4)(n)(ii). ( titulaire ) issuer , of an arrangement, means the person described as the “issuer” in the definition disability savings plan . ( émetteur ) lifetime disability assistance payments under a disability savings plan of a beneficiary means disability assistance payments that are identified under the terms of the plan as lifetime disability assistance payments and that, after they begin to be paid, are payable at least annually until the earlier of the day on which the beneficiary dies and the day on which the plan is terminated. ( paiements viagers pour invalidité ) plan trust , in relation to a disability savings plan, means the trust governed by the plan. ( fiducie de régime ) qualified investment , for a trust governed by a RDSP, means (a) an investment that would be described by any of paragraphs (a) to (d), (f) and (g) of the definition qualified investment in section 204 if the reference in that definition to “a trust governed by a deferred profit sharing plan or revoked plan” were read as a reference to “a trust governed by a RDSP” and if that definition were read without reference to the words “with the exception of excluded property in relation to the trust”; (b) a contract for an annuity issued by a licensed annuities provider where (i) the trust is the only person who, disregarding any subsequent transfer of the contract by the trust, is or may become entitled to any annuity payments under the contract, and (ii) the holder of the contract has a right to surrender the contract at any time for an amount that would, if reasonable sales and administration charges were ignored, approximate the value of funds that could otherwise be applied to fund future periodic payments under the contract; (c) a contract for an annuity issued by a licensed annuities provider where (i) annual or more frequent periodic payments are or may be made under the contract to the holder of the contract, (ii) the trust is the only person who, disregarding any subsequent transfer of the contract by the trust, is or may become entitled to any annuity payments under the contract, (iii) neither the time nor the amount of any payment under the contract may vary because of the length of any life, other than the life of the beneficiary under the plan, (iv) the day on which the periodic payments began or are to begin is not later than the end of the later of (A) the year in which the beneficiary under the plan attains the age of 60 years, and (B) the year following the year in which the contract was acquired by the trust, (v) the periodic payments are payable for the life of the beneficiary under the plan and either there is no guaranteed period under the contract or there is a guaranteed period that does not exceed 15 years, (vi) the periodic payments (A) are equal, or (B) are not equal solely because of one or more adjustments that would, if the contract were an annuity under a retirement savings plan, be in accordance with subparagraphs 146(3)(b)(iii) to (v) or that arise because of a uniform reduction in the entitlement to the periodic payments as a consequence of a partial surrender of rights to the periodic payments, and (vii) the