What is an RDSP?

“Tax-deferred grants for persons with disabilities.”

The Registered Disability Savings Plan (RDSP) is a tax-deferred savings vehicle introduced by the Government of Canadian to help parents and others save for the long-term financial security of a person with a disability.

The federal government provides the Canada Disability Savings Grant (CDSG) to RDSP beneficiaries based on the adult beneficiary’s net income and the amount of annual contributions.   Where the beneficiary is a minor, the CDSG is based on the net income of the beneficiary’s family and the amount to the annual plan contribution.

In addition to the CDSG, the Canada Disability Savings Bond (CDSB) is available to beneficiaries to families with a net family income lower than $37,832.00.   RDSP contributions are not required to be eligible to receive a CDSB.

The person who establishes an RDSP is referred to as the account holder.   However anyone can contribute to an RDSP provided they have written permission of the account holder.   An adult who qualifies for the plan can be both the plan beneficiary and the plan holder.   Contributions, with the added benefit of government grants and bonds, combined with tax-deferred growth, make RDSPs a powerful investment tool.

“RDSPs offer up to a 300% tax-deferred grant!”

 

Please visit Canadian Revenue Agency website, for eligibility requirements at:  http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rdsp-reei/menu-eng.html

 

Questions about Registered Disability Savings Plan’s?

Click the “Contact button” at the bottom of the website

or send an email to forgravefinancial@persona.ca

 

*Mutual funds are distributed through Desjardins Financial Security Investments Inc.  For insurance  products,  Desjardins Financial Security Investments Inc. acts as a national life insurance brokerage agency.