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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 |
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Schedule 1 Exempt Assets |
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Section 2 Learner household units
- 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. - 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.
- The Director may require that an asset exempted under subsection (1)(p), within a specified time, be
- disposed of for fair market value, or
- used to secure a loan.
- disposed of for fair market value, or
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