What does PPA for RSP Pool Include?

adilviraniadilvirani
in Dutil.FA

I know that Quebec version of RRSP allows for MCY, but my question is what does PPA cover for Ontario? Are MCY or snowmobiles part of this? Also do we have statutory limits for each province to meet the RRSP requirement? I noticed there is one old question with limits.
Thanks in advance

Comments

  • FrancoisFrancois
    edited April 2019

    It's just your regular car and stuff

    Other than PPA is defined as :

    a. Personal Vehicles - Motorcycles
    b. Personal Vehicles - Motor Homes
    C. Personal Vehicles - Off-road Vehicles
    d. Personal Vehicles - Motorized Snow Vehicles
    e. Commercial Vehicles - Trailers
    f. Commercial Vehicles - Other than Trailers
    9. Public Vehicles - Taxis and Limousines
    h. Public Vehicles - Other than Taxis and Limousines

    A passenger vehicle is defined as :

    A motor vehicle is an automotive vehicle designed or adapted for use on highways and streets. A motor vehicle does not include a trolley bus or a vehicle designed or adapted to be operated only on rails.

    A passenger vehicle is a motor vehicle designed or adapted primarily to carry people on highways and streets. It seats a driver and no more than eight passengers. Most cars, station wagons, vans, and some pick-up trucks are passenger vehicles.

    A passenger vehicle does not include:

    an ambulance
    a clearly marked police or fire emergency response vehicle
    a motor vehicle you bought to use more than 50% as a taxi, a bus used in the business of transporting passengers, or a hearse used in a funeral business
    a motor vehicle you bought to sell, rent, or lease in a motor vehicle sales, rental, or leasing business
    a motor vehicle (except a hearse) you bought to use in a funeral business to transport passengers
    a van, pick-up truck, or similar vehicle that seats no more than the driver and two passengers and that, in the tax year you bought or leased it, was used more than 50% to transport goods and equipment to earn income
    a van, pick-up truck, or similar vehicle that, in the tax year you bought or leased it, was used 90% or more to transport goods, equipment, or passengers to earn income
    a pick-up truck that, in the tax year you bought or leased it, was used more than 50% to transport goods, equipment, or passengers to earn or produce income at a remote work location or at a special work site that is at least 30 kilometres from the nearest community with a population of at least 40,000
    a clearly marked emergency medical service vehicle used to carry paramedics and their emergency medical equipment

  • adilviraniadilvirani

    Thanks a lot for the explanation @Francois. Cheers

  • adilviraniadilvirani
    edited April 2019

    Hi @graham and @javid , I was reading custom battles for RSP, and it seems that for the NS RSP, there might be a typo. For NS RSP, it is for Inexperienced drivers for less than 6 years of experience and there is not limit on the number of risks ceded. Correct me if I am wrong. :)

    Cheers
    Adil

  • grahamgraham

    Hi @adilvirani and @javid. You're right, and I have made the corrections in the BattleCards. I edited both NB RSP and NS RSP. Thanks!

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