John1
Very helpful member
- Joined
- Feb 25, 2006
- Messages
- 1,055
- Diagnosis
- 10/2000
- Country
- CA
- State
- NL
- City
- Newfoundland
I just became aware of the federal government's Registered Disability Savings Plan (RDSP) for disabled Canadians. It was posted on my bank's website today. It began in 2008 and is remarkably generous, particularly to PALS under 49. Some highlights include:
-income from investments in the plan grow tax-free and are drawn out tax-free (unlike RRSP plans).
-depending on the beneficiary’s family net income and the amount contributed, the Government of Canada will pay matching grants of 100, 200 or 300 per cent. An RDSP can receive a maximum of $3,500 in matching grants in one year, and up to $70,000 over the beneficiary’s lifetime.
-plan holders must be under age 60
-plan holders must be eligible for the Disability Tax Credit
More information can be found at the government website:
RDSP and You
-income from investments in the plan grow tax-free and are drawn out tax-free (unlike RRSP plans).
-depending on the beneficiary’s family net income and the amount contributed, the Government of Canada will pay matching grants of 100, 200 or 300 per cent. An RDSP can receive a maximum of $3,500 in matching grants in one year, and up to $70,000 over the beneficiary’s lifetime.
-plan holders must be under age 60
-plan holders must be eligible for the Disability Tax Credit
More information can be found at the government website:
RDSP and You
