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Income and Employment Supports Regulations

Published Date: November 17, 2017
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Income Support, Training and Health Benefits Regulation

Schedule 1 Exempt Assets

Section 2 Learner household units

  1. For the purpose of section 47(1) of this Regulation, the following are, subject to subsections (2) and (3) of this section, exempt assets for a learner household unit:

    a.    one principal residence, including the home quarter section of a farm;

    b.    vehicles; 

    c.    clothing and reasonable household items; 

    d.    reasonable equipment and tools necessary for self employment;

    e.    essential equipment and supplies for farmers; 

    f.    subject to subsection (2), business and farm assets;

    g.    subject to subsection (2), real estate; 

    h.    an asset held by a trustee in bankruptcy under the Bankruptcy and Insolvency Act (Canada); 

    i.     money that has been accumulated by a member of the household unit under the learn$ave savings program or under
    another savings program approved by the Minister;

    j.     a locked in retirement account; 

    k.    a Registered Disability Savings Plan; 

    l.     a Registered Education Savings Plan; 

    m.    a Registered Retirement Savings Plan; 

    n.    holdings of the household unit in a life insurance plan; 

    o.    an asset that was purchased with money exempted under section 1(1)(n), (x) or (y) of Schedule 2 as permitted by
    the Minister; 

    o.1   an asset or liquid asset that was purchased or obtained with money exempted under section 1(1)(s.1) of schedule 2;

    o.2   an asset or liquid asset that was purchased or obtained with money exempted under section 1(1)(r), (s), (x) or (y) of Schedule 2 as permitted by the Minister;

    p.    any other asset, excluding a liquid asset exempted by the Director.

  3. For a second or subsequent training service plan for a learner member of a household unit, other than an apprentice member, any particular real estate or business or farm assets exempted by subsection (1)(f) or (g) under a previous training service plan is not exempt.

  5. The Director may require that an asset exempted under subsection (1)(p), within a specified time, be 
    1. disposed of for fair market value, or 
    2. used to secure a loan.