Consultation on Qualified Investments for Tax-Advantaged Savings Plans
Current status: Closed
To make it easier for middle-class Canadians to save tax-free, Budget 2024 announced a consultation to help modernize and simplify the qualified investment rules of the registered plans regime.
This consultation for all Canadians and interested stakeholders was held from April 16, 2024, to July 15, 2024. Thank you to everyone who participated.
Key questions for consideration
This consultation sought feedback on how the qualified investment rules that apply to several registered plans (including RRSPs, TFSAs, and FHSAs) could be modernized on a prospective basis to improve the clarity and coherence of the registered plans regime.
In particular, the consultation focused on the following questions:
- Should the rules relating to investments in small businesses be harmonized to apply consistently to all registered savings plans, and if so, how?
- Should annuities that are qualified investments only for RRSPs, RRIFs, and RDSPs continue to be qualified investments?
- Are the conditions that certain pooled investment products must meet to be a qualified investment appropriate, including the ongoing value of maintaining a formal registration process for registered investments?
- Should qualified investment rules promote an increase in Canadian-based investments, and if so, how?
- Are crypto-backed assets appropriate as qualified investments for registered savings plans?
What’s next?
While this formal consultation has now concluded, Canadians are welcome to share their ideas and comments with the Department of Finance at any time.