Myth #2: Everyone Should Save in an RRSP (and why the RDSP is different!)
It’s nearing the end of RRSP season, financial institutions are running adds and the media is showing its usual enthusiastic interest in RRSPs. It’s only normal, right? Everyone should be opening and contributing to their RRSP? At the risk...
Clarifying the NEW RDSP Carry Forward Rules
One of our client administrators had a question recently, “I just turned 50. Can I open an RDSP and put money in the Grant and Bond for previous years?” The question is a good one. "If I was entitled...
Dispelling the Myths #1: RDSP Income and Disability Income Benefits
I am shocked at the number of people – families, lawyers, financial planners – who still think that receiving funds from an RDSP will affect a person’s provincial disability income benefits. Let’s be clear about the facts: In BC,...
2010 Federal Budget Personal Tax Changes – Impact on Families affected by Disability
2010 Federal Budget Personal Tax Changes -Impact on Families affected by Disability By Ability Tax Group – abilitytax.ca Increase in Personal Amount Exemptions The basic personal amount exemption has been increased to $10,382 in 2010. If you had no...
Top 10 Reasons to Open an RDSP
1. Receive up to $70,000 from the federal government in matching contributions. The federal government has implemented the Canada Disability Savings Grant program to assist Canadians with disabilities to save for their futures. The federal government will contribute up...
RDSP Reforms Become Law
Several reforms important to people with disabilities became law in mid-December when Bill C-47 (the last of the budget Bills) was passed by the Senate and given Royal Assent. In his budget, Finance Minister Flaherty announced carry forward provisions...
site migration in the next couple weeks
I’ve been asked to let you know that PLAN is migrating the blog onto a redesigned www.rdsp.com at some point in the next couple of weeks. Our technology experts are working hard to make this migration seamless but want...
Minister Flaherty continues to promote access to the RDSP
The Honorable James Flaherty, Minister of Finance, has once again taken the initiative to ensure that people with disabilities are able to access the RDSP. You are probably aware that the Disability Tax Credit (DTC) is one of the...
Transfers from one financial institution to another: update
A number of you have expressed frustration in not being able to transfer your RDSP from one financial institution to another. Part of that frustration has been that the messages have been conflicting – you should be able to...
Shepherds Wanted! Holders and the RDSP
One of the most challenging aspects of future planning is finding people to shepherd the plan far into the future. Therefore, it is not surprising that setting up an RDSP presents the same issue – who can help manage...