Thank you, Mr. Chair.
Division 4 proposes consequential amendments to the Canada Disability Savings Act as a result of the introduction of the Canada child benefit in Budget 2016.
Eligibility for the low-income Canada disability savings bond was originally pegged to the family income threshold of the former Canada child tax benefit, which is currently set at $26,364. The amendment will now peg that family income threshold against the new Canada child benefit at $30,000.
As a result, in 2017 it is estimated that approximately 14,700 registered disability savings plan beneficiaries will benefit from this change, with an average increase in Canada disability savings bond payments of $87 in that year, for an increase in statutory payments of $1.28 million.