RDSP (Registered Disability Savings Plan) Fact Sheet

What is it?

The Government of Canada introduced the Registered Disability Savings Plan (RDSP) in 2008 to provide financial security for individuals with disabilities. The plan allows a person who is eligible for the federal disability tax credit to accumulate up to $200,000 in contributions on a tax-deferred basis.

Who is eligible? To qualify for a RDSP, a beneficiary must:

  • Be a Canadian resident

  • Have a valid Social Insurance Number (SIN)

  • Be less than 60 years of age

  • Be eligible for the Disability Tax Credit (DTC)

Advantages

Earnings grow tax-free while held in the plan. The federal government matches up to 30% through grants and extra funding for low-income families. There are two funding programs to help you save: the Canada Disability Savings Grant (CDSG) and the Canada Disability Savings Bond (CDSB).
 

 

 

Contact a 3i Financial Advisor today to see how an RDSP can help your loved ones.

 

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