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RDSP
The Registered Disability Savings Plan

Helping Canadians With Disabilities Save for the Future

The RDSP is a tax-deferred savings vehicle introduced by the Government of Canada to help Canadians with disabilities and their families save for their long-term financial security and access to up to $90,000 in government Grants and Bonds.
To qualify for an RDSP, you must:
  1. Be eligible for the Disability Tax Credit (information available on the Government of Canada's Website HERE)
  2. Be a resident of Canada
  3. Be less than 60 years of age
  4. Have a valid Social Insurance Number (SIN)

In addition:
  • You may be able to access up to $90,000 in Government of Canada grands with an RDSP
  • If you already qualify for the Disability Tax Credit you can access these grants right away.

Three Things You Need To Know:

Once a withdrawal of any amount is made, all federal grants and bonds paid into the RDSP in the previous 10 years must be repaid to the federal government on a 3:1 basis
Beneficiaries aren't required to pay taxes on their RDSP until withdrawals are made or the RDSP is terminated
If you think a Disability Assistance Payment is likely, you can choose to not request CDSG or CDSB payments. These can be restarted after the payment.

The RDSP can be confusing. Need a hand?

Our local experts are here to help you.

BOOK AN APPOINTMENT

Want to learn more about the RDSP and the Disability Tax Credit?

Check out the information on the Government of Canada's Website 

CLICK HERE

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