Ontarian with Special Needs


Turning $12,000 Disability Savings into $40,000 in three years

RDSP Example: Last November, I did a RDSP workshop for families with special needs. During the presentation, I illustrated an example of how contributions toward the Registered Disability Savings Plan could bring in huge benefits from the government. Many attendees were astonished after we went through the calculations together. Below is an example I recently read from an article on…

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Disabled Woman In Office

Disability Tax Credit Canada(DTC)

What is Disability Tax Credit (DTC)? We have been talking about Registered Disability Savings Plan (RDSP) for quite sometime. If you could still recall, in order to be eligible to setup a RDSP account, one must first qualified for the Disability Tax Credit (DTC). The Disability Tax Credit is a non-refundable tax credit for Canadians who…

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Inheritance for Disabled Persons: RDSP and Henson Trust

I met a person with pre-long disability awhile ago. With the great support from the Canadian government, he is receiving benefits from the ODSP (Ontario Disability Support Program). Unfortunately, his father is extremely sick, and doctor predicts that he might only survive for a short period of time. While going through the emotional hardship, there is also a huge concern that…

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Two friends talking about Registered Disability Savings Plan (RDSP)

I just created a short video where two friends are discussing what is the way to save for a disabled child.  One talks about how the RDSP would be able to help. Enjoy!      

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RDSP Grants- Canada Disability Savings Grants (CDSGs)

Up to 300% matching RDSP Grants When talking about the advantage of setting up a Registered Disability Savings Plan (RDSP), we must talk about the Canada Disability Savings Grant (CDSGs) and the Canada Disability Savings Bonds (CDSBs). Government of Canada offers them to assist in savings for disabled people. We will first go through the CDSGs for…

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Recent RDSP changes

As you might not noticed, in the 2012 federal budget, our government has introduced a few changes to the RDSP. I think all these changes have made it even easier to build up the savings for people with disability. Other family members becoming temporary RDSP holders “The 2012 federal budget introduced a measure to let some family members…

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What will happen to the RDSP when beneficiary is recovered?

I recently received a question from a parent about the “Registered Disability Savings Plan“. Her question is if my child who currently is eligible for the “disability tax credit” later on recover, upon the loss of the eligibility, what would happen to her RDSP account. I quickly did some researches on this issue, and below…

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RDSP Video from Globe and Mail

I recently came across a video that briefly explains the RDSP. When the program first launched back in 2008, not too many financial institutions are offering the plan. However, as companies realize this is such a meaningful plan to have, more and more of them are entering into this field, which leaves plan holders more…

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What is Registered Disability Savings Plan (RDSP)?

What is RDSP? People with disabilities and their loved ones face a distinct set of financial challenges throughout their lives. To help address these challenges, in 2008 the Government of Canada introduced the Registered Disability Savings Plan (RDSP). Designed to help build long-term financial security for disabled persons, the RDSP makes it easier to accumulate…

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