DTC

Disability Tax Credit Update

Disability Tax Credit 2017 Update

  There has been a number of changes in the 2017 Federal Budget. One of them pertains to the Disability Tax Credit. If one could recall, Disability Tax Credit is a non-refundable tax credit for Canadians who have prolonged physical or mental disability. It is designed to reduce the amount of income tax that the disabled…

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rdsp 2017 updates

FAQ about Registered Disability Savings Plan (RDSP)

  RDSP – Account Level Questions: What is Registered Disability Savings Plan (RDSP)? Who is eligible to setup a RDSP account? How do I apply for the disability tax credit? What are the key benefits of RDSP? Who will be the people involved with the RDSP account? Who can be the RDSP account holder? Can there…

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child disability benefits

Child Disability Benefits (CDB)

What Is Child Disability Benefits (CDB)? The purpose of the Child Disability Benefit is to provide tax-free benefits to families who have a child with prolonged disability.   What Benefit Is Available? CDB may provide monthly benefits of up to $220.83 per month or $2650 per year. The amount of benefits is based on: the…

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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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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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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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