Registered Disability Savings Plan

Registered Disability Savings Plans (RDSP) are available to Canadian residents under 60 and who are eligible to receive the Disability Tax Credit. The RDSP enables Canadians with a qualifying disability to receive tax deferred investment growth much like an RRSP - although, you or the contributor will not receive any form of a tax credit for contributing to the RDSP.

Parents, guardians or anyone who receives written approval from the account holder can contribute on behalf of the beneficiary. This enables Canadians to help those who may not be able to earn as high of an income due to a disability.

Product Features and Benefits

  • In order to be eligible for the RDSP you must be:
    • A Canadian citizen under the age of 60 at time of contribution
    • Eligible to receive a Disability Tax Credit
    • Have a valid Social Insurance Number
  • You can only have one RDSP
  • If you currently receive the Disability Tax Credit you may qualify for a RDSP
  • A RDSP can be created by the beneficiary or by another person who is legally authorized to act for the person (i.e. a parent or guardian)
  • Anyone can contribute to a RDSP if they get written permission from the RDSP holder
  • Access to most investment options available under registered plans
  • Receive tax deferred investment growth
  • Contributions are limited to a lifetime maximum of $200,000
  • The RDSP gives parents and guardians the peace of mind knowing that their dependent will be able to have sufficient means of income when they no longer have anyone to depend on for financial assistance

  • New for 2011, individuals who didn’t contribute to their RDSP have the ability to carryback contributions in excess for years where no contributions were made

  • Contributions may be eligible for the Canada Disability Savings Grant (CDSG) which provides matching contributions up to a maximum annually, dependent upon family income and contributions ($70,000 lifetime limit) as shown below:

Beneficiary’s Family Net Income Matching CDSG on Annual RDSP Contributions Maximum CDSG Payment
 $81,941 or Less  $3 for every $1 on first $500  $1500**
  $2 for every $1 on next $1000 $2000**
 More than $81,941 $1 for every $1 on first $1000  $1000

 **A beneficiary can receive $3,500 for $1,500 in contributions with a Family Net Income of less than $81,941**

  • The plan may also be eligible for the Canada Disability Savings Bond (CDSB) which pays up to $1,000 annually until the end of the year the beneficiary turns 49 ($20,000 lifetime limit) as shown below:
 Beneficiary’s Family Net Income  Maximum CDSB Payment
 $23,855 or less (or if the holder is a public institution) $1,000
 Between $23,856 and $40,969 Part of $1,000 based on the formula under Canada Disability Savings Act
 More than $40,969 No CDSB is paid

Beneficiaries with less than $23,855 of Family Net Income can turn $1,500 into $4,500, which equates to a return on investment of 200%.


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