NET WORTH PROGRAM
ASSET LIST
Below is a List of Eligible and Ineligible Asset Types Related to the Net Worth Program
ELIGIBLE ASSETS
- Chequing & Saving Accounts
- Stocks of a publicly-traded Canadian or U.S company
- Mutual Funds and Exchange Traded Funds (ETFs)
- Guaranteed Interest Coupons (GICs) and Term Deposits
- Canada and/or Provincial Savings Bonds
- Equity in existing properties being sold prior to closing of the new mortgage
- Tax-Free Savings Accounts (TFSAs) holdings
- RRSP and other Retirement Accounts holdings (discounted by 30% to account for withholding taxes)
- Employee Stock Option Plans (ESOPs)
- Stocks of a non-Canadian company-owned within an investment account/portfolio held in a Canadian financial institution
- U.S Government T-Bills, Treasury Notes, and Treasury Bonds
- RIFs (discounted by 30%), only if RIF income is not used for income qualification
- Liquid assets held in holding companies
- Assets must be unencumbered (not pledged as security for another credit facility)
INELIGIBLE ASSETS
- Equity in real estate, except those being sold before closing of the new loan
- Foreign assets, except those expressly stated on the eligible asset list
- Cryptocurrencies
- Locked-in accounts
- Panda Bonds
- Registered Education Savings Plans (RESPs)
- Vehicles or Boats
- Jewelry
- Fine Art
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