RDSPs for families raising a child with a disability
If your child qualifies for the Disability Tax Credit, the Government of Canada can add grants and bonds to their Registered Disability Savings Plan. I help you open the account and plan contributions so you claim as much as you can, including years you've missed.
How the government money adds up
- $3,500 a year
- In matching grants, depending on what you put in and your family income. Up to $70,000 over your child's lifetime.
- $1,000 a year
- In bonds for lower-income families, with no contribution needed. Up to $20,000 over a lifetime.
- 10 years
- Unused grants and bonds from up to 10 past years can be caught up, back as far as your child's Disability Tax Credit approval.
Figures from the Government of Canada. Grants are paid until the end of the year your child turns 49, and income limits change every year. See the current rules on canada.ca.
What I do for you
The grants depend on how much you put in and when, so a little planning each year can add thousands to your child's account.
- Check your child's Disability Tax Credit and open the RDSP.
- Plan contributions to get the most grant money each year.
- Catch up on grants and bonds from past years.
- Plan withdrawals so you don't have to pay grants back.