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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

Schedule 1 Exempt Assets

Section 1 Barriers to full employment/expected to work or working household units

  1. 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

  2. The Director may require that an asset exempted under subsection (1)(o) be, within a specified time, 

    1. disposed of for fair market value, or 
    2. used to secure a loan.