Each year, we receive a Grant Entitlement Statement for my son’s RDSP. This year is no different, but things will change next year.
Estimated reading time: 2 minutes
RDSP Grant Entitlement 2023
As you can see, this is an essential piece of information. I now know that in 2023, I can deposit $1000 in my son’s RDSP, which will be matched with $1000 in grants.
This amount should increase now that my son is 19, as the income they will use to determine the grant will be his income instead of our household income (this should come into effect next year). At 19, his grants should be much higher due to his estimated payment (based on his income from age 17). (Age is 19, thanks to Ron Malis for correction).
My son must now re-qualify for hisÂ Disability Tax Credit (this is due to his DTC expiring at that age). This is what we learned from the last time he had to re-qualify. The rules have changed if he should not get a DTC right away.
This also means my son no longer qualifies for provincial help besides the ODSP. Am I worried about his future? Every day.
Previous Posts on Grant Entitlements
- 2022 Statement of Grant Entitled amount
- 2021 Statement of Grant Entitled amount
- 2020 Statement of Grant Entitlement
- 2019 Statement of Grant Entitlement
- 2018 Grant Discussions
The RDSP recipient will receive an update every year, which outlines how much in Bonds and Grants they will receive every year.
No, you must have a DTC, allowing you to open an RDSP.
No, the ODSP does not rely on the DTC.