Good News on the Disability Tax Credit!

So I was just reading the Disability Tax Credit (DTC) application this morning. The government seems to have widened the criteria for mental functions and life-sustaining therapy.

On the life-sustaining therapy,

  • More activities are being recognized,
  • A decrease in the required frequency from 3 times per week to 2 times per week,
  • Applicants diagnosed with type 1 diabetes are now deemed to meet the criteria for life-sustaining therapy

Furthermore, they have expanded the list of mental functions necessary for everyday life.

You may check out the updated application forms to review these changes.

So if you or someone you know were previously declined, you should take a look at these new changes.

Just a recap, the Disability Tax Credit is for Canadians with pro-longed disability. Getting it approved could have many benefits. One of them is to able to set up the Registered Disability Savings Plan (RDSP). People with DTC under the age of 49 may qualify for up to $90,000 of Canada Disability Savings Grants and Bonds. (*)

So do you have any questions about the RDSP? If so, you may click here to contact me.

(*) The amount of government grants and bonds may vary between individuals. They are subjected to factors such as contribution amount, age eligibility, and family income.

Disclaimer: The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as investment, financial, legal, accounting or tax advice. Please obtain independent professional advice, in the context of your particular circumstances. 

Samuel Li

Hi, I'm Samuel Li. I started my financial advisory practice in 2005, assisting Canadians in growing their long-term wealth while protecting their assets. One area I specialize in is servicing families with disabilities. If you'd like to explore how I can assist you, feel free to email me at Samuel@SamuelConsultant.com

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