Old 11-17-2009, 08:52 AM #1
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Join Date: 2006
City: Newfoundland
State: NL
Country: CA
Diagnosed: 10/2000
Interest: ALS dx in 2000; changed to UMN-dominant in 2012
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John1 John1 is offline
Very Helpful Member
John1's Avatar
Join Date: 2006
City: Newfoundland
State: NL
Country: CA
Diagnosed: 10/2000
Interest: ALS dx in 2000; changed to UMN-dominant in 2012
Posts: 1,028
John1 is on a distinguished road
Default Tax savings and grants for Canadian PALS

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
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