RDSP Ontario

RDSP: Most Generous, but Complex Savings Tool

Last Saturday, there was a conference for families with special needs hosted by Community Living.  This was a whole day event, where speakers from numerous different industries had shared their expertise, which widened the view of many attendees. What kind of supports are available through the Ontario Disability Support Program (ODSP)? What are the benefits…

Continue Reading

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…

Continue Reading
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…

Continue Reading

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…

Continue Reading

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!      

Continue Reading

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…

Continue Reading

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…

Continue Reading