A Registered Disability Savings Plan (RDSP) provides long-term tax-sheltered savings and can trigger qualifying contributions of up to $90,000 in government grants and bonds over its lifetime.
Funds held in an RDSP account can be invested in products like term deposits or mutual funds. We’re here to help you navigate opening an RDSP for yourself or your child and to guide you to investments that will help with saving for the future.
Eligible Canadians who qualify for the federal disability tax credit can receive up to $4,500 annually in grants and bonds through:
There is no annual contribution limit, but the lifetime limit is $200,000. Grant and bond money going back to 2008 may be claimed by eligible recipients. Contributions can be made by anyone with the written permission of the plan holder. There is no impact on other government tax and disability benefits for BC beneficiaries.
See what’s new on the Canada Revenue Agency website.
Book an in-person or phone appointment with a local financial services representative today.