EDMONTON — Albertans applying for affordable housing will no longer have to declare their disability and education savings plans as part of asset testing rules.
Housing Minister Lori Sigurdson announced Thursday that registered disability and education savings plans won’t count toward the $7,000 asset limit for affordable housing programs.
In the past, some applicants have been denied access to housing support because their savings plans raised their assets beyond the limit, even though they met the income requirements.
The province says asset testing for housing programs is now consistent with other support programs such as the Alberta Seniors Benefit.
Sigurdson says the change means low-income Albertans are not being penalized for saving for their future security or their children’s education.
The exemptions will take effect on April 1.