Federal government opens consultation period regarding possible changes to Qualified Investments for tax-advantaged savings plans
July 05, 2024
The Canadian government has opened a consultation regarding possible changes to Qualified Investments for tax-advantaged savings plans.
Unveiled during the 2024 federal budget, the aim is to streamline and modernize qualified investment rules for the registered plans regime, including Registered Retirement Savings Plans, Registered Retirement Income Funds, Tax-free Savings Accounts, Registered Education Savings Plans, Registered Disability Savings Plans, Tax-free First Home Savings Accounts and Deferred Profit-sharing Plans.
Specific items to be considered as part of the consultation include:
- Should the rules for investments in small businesses be harmonized to apply consistently across all registered savings plans?
- Should annuities remain Qualified Investments?
- Should the conditions for Qualified Investment status for pooled investment products change?
- Should Qualified Investment rules change to promote an increase in Canadian-based investments?
- Should Qualified Investment status be considered for crypto assets?
The government requests that interested Canadians and stakeholders weigh in by July 15, 2024.
Click on more information read the full document from the Government of Canada:
