Canada Disability Savings Bond

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How many RDSP account could I have?

Could I have more than one RDSP account? I received this question from one of my email subscribers two weeks ago. The simple answer is no. Under the current rule, each beneficiary with prolonged disability may only have one RDSP at any given time. I believe this setup is to avoid confusion, especially when trying…

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CDSB (RDSP)

Canada Disability Savings Bonds (CDSBs)

Is the Registered Disability Savings Plan (RDSP) only for the wealthy families? In my previous posting, we have discussed over the Canada Disability Savings Grants (CDSGs). Although it is one of the most generous matching grant from the government of Canada, it often leads to the question: “If a family is earning low-income, and unable…

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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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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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