More RDSP and DTC Talk
More clarifications on my part about the RDSP and DTC and how they work together. The program is slowly being clarified, and refined by the Government, but the latest changes do seem to make life simpler for the beneficiaries.
The disability tax credit is the money the CRA gives folks with disabilities (or their parents) after the CRA has OK’ed the disability. To quote the CRA on this:
The disability tax credit (DTC) is a non-refundable tax credit that
helps persons with disabilities or their supporting persons reduce the
amount of income tax they may have to pay. An individual may claim
the disability amount once they are eligible for the DTC. This amount
includes a supplement for persons under 18 years of age at the end
of the year.
Applying for the DTC can be a cumbersome process, however, I strongly suggest not using any external firm for help, you can do this yourself, and you should, to ensure you keep the money that is due to you.
More clarifications on my part about the RDSP and DTC and how they work together. The program is slowly being clarified, and refined by the Government, but the latest changes do seem to make life simpler for the beneficiaries.
Has the CRA made a policy changes for the Disability Tax Credit (DTC)? Not formally (that I am aware of) however there are more stories about DTC denials from folks. #DTC #Autism #CRA
am in a bit of a tax quandary about whether to file sooner or wait for a reassessment by the CRA. What did I decide and why? Read on and see.
When you get an assessment letter form the CRA it is not time to freak out, read it carefully and give them everything they ask for.
Are you not sure about whether you should apply for the dtc (disability tax credit)? If you or your child has a disability, you should! apply as soon as possible.