RDSP

Mother kissing son revised

Can RESP Rollover To RDSP?

We work with many children with special needs. One of the questions often arise from their parents is they already have set up a Registered Education Savings Plan (RESP), but they do not expect their children could pursue in studying post-secondary education due to their disability condition, in such scenario, can they transfer the RESP…

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RDSP anti-avoidance

Investment Review for the Second Quarter of 2017

As we are passed the second quarter of 2017, below is a brief market recap of the investment markets, which I hope will provide you with some insights in how to position your portfolios. Most capital market indexes around the world registered impressive gains early in the second quarter before moderating in June, reflecting steady…

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RDSP anti-avoidance

Anti-Avoidance Rules For Registered Disability Savings Plan (RDSP)

In the 2017 Federal Budget, there are a number of proposals that could impact the financial, tax and estate planning of Canadian. For families with disabilities, there is an improvement when applying for the Disability Tax Credit. Here’s the update about the Disability Tax Credit: http://samuelconsultant.com/disability-tax-credit-2017-update/ Also, the anti-avoidance rule will also be extended to the…

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RDSP Contribution - Revised

The Power of RDSP 2017: How to Turn $21,000 into $84,000 in 5 years?

Two weeks ago, I sent out a reminder to the families that I’m working with to start planning for their RDSP contribution in 2017. Especially, by the month of March, many of them have already received their “Annual Statement Of Grants Entitlement for 2017”. This is the letter which stated how much should their family contribute…

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why

Why My RDSP’s Matching Grant Is Less Than The Previous Year’s?

A number of families that I am working with already received their “Annual Statement of Grants Entitlement” from the government. Some of them contacted me and had the common questions “Why My RDSP Matching Grant Is Less Than The Previous Year’s?” If one could recall, Canada Disability Savings Grants (CDSGs) are matching grants provided by the Government of…

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RDSP Income Matching Rates for 2017

To start off planning for your Registered Disability Savings Plan in 2017,  I contacted Mackenzie Investments. They are one of our long-term business partners, and the top notch financial company when it comes to RDSP planning. They provided me with the new figures of the family net income to calculate for the grants and bonds. There hasn’t…

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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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RDSP age of majority

3 Things To Look Out For When RDSP beneficiary Reaches Age Of Majority

1) Find out who should be the RDSP account holder The account holder is the person who could make all the decision regarding the Registered Disability Savings Plan. (i.e.: Decision on investments, contributions, withdrawal). It is important to assign an account holder who could make legal and rational decision on behalf of the beneficiary. According to the current…

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RDSP competent

How To Plan For Disabled Adults Who Are Unable To Manage Their Finance?

When the disabled person is under the age of majority, there is relatively less restriction in managing for their finance. Typically speaking, the legal parents could manage on behalf of the child. It is when the child reaches the age of majority, and is not contractually competent, then there would be more procedures involved. (Note:…

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RDSP Life Shortening

What Happens If The RDSP Beneficiary Has Shortened Life Expectancy?

(Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net) Awhile ago, I received a question from one of my email subscribers. This was an email from a mother where her son with disability has shortened life expectancy. “Dear Samuel, thank you for your ongoing email updates. They are very informative and I enjoy reading them. I have a…

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