3. (1) The total amount of a planholder’s qualifying contributions to an Ontario home ownership savings plan for a calendar year for the purposes of this Act and the
Income Tax Act (Ontario) shall not exceed the lesser of, (a) the total amount of qualifying contributions made by the planholder to the planholder’s Ontario home ownership savings plan during the calendar year; and (b) $2,000.  R.S.O. 1990, c. O.20, s. 3 (1). Time limit for qualifying contributions (2) No contribution to an Ontario home ownership savings plan shall be a qualifying contribution unless it is made on or before December 31 of the fourth calendar year ending after the end of the calendar year in which the plan was entered into by the depositary and the planholder.  1994, c. 17, s. 125. Not a qualifying contribution (3) No contribution to an Ontario home ownership savings plan is a qualifying contribution for the purposes of this Act and the Income Tax Act if it is made after May 18, 2004 or if, (a) the planholder has received, or has been deemed by this Act to have received, any assets of the plan or the benefit or use of any of the assets of the plan during the year in which the contribution is made, except by way of a release of the assets of the plan under section 5 for the purpose of the acquisition by the planholder of a qualifying eligible home; (b) the contribution is made at a time when the planholder or a spouse or common-law partner of the planholder with whom the planholder resides, or from whom the planholder lives separate and apart for reasons other than the breakdown of the marriage or common-law partnership, is the owner of an eligible home or is a partner in a partnership that owns property that would be an eligible home of the partner if the property was owned by the partner; (c) at any time before the contribution is made, the planholder owned an interest in an eligible home; (d) the spouse or common-law partner of the planholder with whom the planholder resides, or from whom the planholder lives separate and apart for reasons other than the breakdown of the marriage or common-law partnership, owns or owned at any time an eligible home unless, (i) in the case of a contribution made to a plan before January 1, 1989, the contribution was made to the plan before the planholder married the spouse or entered into a common-law partnership with the common-law partner and either, (A) the spouse or common-law partner owned no interest in an eligible home at the time the marriage or common-law partnership was entered into and the only interest in an eligible home the spouse or common-law partner may have acquired after the marriage or common-law partnership was entered into was an interest in an eligible home in respect of which the assets of the planholder’s plan were released under section 5, or (B) the marriage occurred or common-law partnership was entered into after the date on which the planholder acquired an interest in an eligible home in respect of which the assets of the planholder’s plan were released under section 5, or (ii) in the case of a contribution made to a plan after December 31, 1988, the spouse or common-law partner has not owned, at any time during the marriage to or common-law partnership with the planholder, an interest in an eligible home, other than an interest in an eligible home acquired during the marriage or common-law partnership in respect of which the assets of the planholder’s plan were released under section 5; or (e) the planholder does not reside in Ontario at the end of the taxation year in which the contribution is made.  R.S.O. 1990, c. O.20, s. 3 (3); 2000, c. 42, s. 88; 2004, c. 31, Sched. 29, s. 2.