RDSP

The Registered Disability Savings Plan (RDSP) is a long-term savings plan specifically designed to help Canadians with disabilities who are eligible for the Disability Tax Credit.

Friends, family, and individuals can accumulate funds in an RDSP, which grows on a tax-deferred basis and may be eligible to receive the Canada Disability Savings Grant and the Canada Disability Savings Bond. Contributions to an RDSP are not tax-deductible. Any withdrawn contributions from the RDSP are not included as income for the beneficiary however any Canada disability savings grant Canada disability savings bond, and investment income earned in the plan are included in the beneficiary income for tax purposes when paid out of the RDSP. Contributions can be made to an RDSP until the end of the year in which the beneficiary turns 59 years of age.

Here are some websites that provide additional information on RDSPs:

• Canada Revenue Agency
• Human Resources and Skills Development Canada
• Service Canada
• PLAN RDSP

Give us a call to set up a RDSP today, to provide tax-deferred investing and long-term financial security for a person with disabilities.