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Income and Employment Supports Regulations |
Published Date: September 27, 2017
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Income Support, Training and Health Benefits Regulation |
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Schedule 1 Exempt Assets |
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Section 1 Barriers to full employment/expected to work or working household units
- For the purpose of section 20(1) and 100(1)(c) of this Regulation, the following are, subject to subsection (2), exempt assets for a barriers to full employment household unit or an expected to work or working household unit:
a. one principal residence, including the home quarter section of a farm;
b. any vehicle of a reasonable value;
c. any vehicle adapted to accommodate a disability of a member of the household unit;
d. clothing and reasonable household items;
e. reasonable equipment and tools necessary for self employment;
f. essential equipment and supplies for farmers;
g. an asset held by a trustee in bankruptcy under the Bankruptcy and Insolvency Act (Canada);
h. 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;
i. a locked in retirement account;
j. a Registered Disability Savings Plan;
k. a Registered Education Savings Plan;
l. a Registered Retirement Savings Plan of a value determined by the Minister;
m. holdings of the household unit in a life insurance plan to the extent that the total cash surrender value is equal to
or less than $1500;
n. an asset that was purchased with money exempted under section 1(1)(n), (x) or (y) of Schedule 2 as permitted by
the Minister;
n.1 an asset or liquid asset that was purchased or obtained with money exempted under section (1)(1)(s.1) of schedule 2;
n.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;
o. subject to subsection (2), any other asset, excluding a liquid asset, exempted by the Director - The Director may require that an asset exempted under subsection (1)(o) be, within a specified time,
- disposed of for fair market value, or
- used to secure a loan.
- disposed of for fair market value, or
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