Statement of Grant with No DTC
What happens when your son’s DTC from CRA expires? Learn about the implications and challenges of dealing with your RDSP and a zero’ed statement of grant entitlement.
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Registered Disability Savings Plan
The RDSP is the Registered Disability Savings Plan, a Canadian Government program to help disabled individuals save for their future. Depending on the disability and income level of the disabled person (or their guardians/parents) the Government will also add allowances and bursaries to the account yearly, up to a lifetime maximum.
The RDSP is a key tool for parents of children with disabilities save for their loved one’s future. Once the child’s disability has been recognized by the CRA, an RDSP can be set up to start saving for the child’s future. The government’s additions will depend on the income level of the parents, the lower the income the more allowances and bursaries are added to the savings account.
Savings as a Financial Misnomer
The word Savings is used in the names of RESP, RDSP, RRSP, TFSA and others, but this really does confuse many folks.
RDSP: Grants Early or Later?
Deposit early to get grants early, or wait until the grant rate increases, is a question for folks with RDSPs. Which is the better way? It depends. The Registered Disabilities Savings Plan is a very long term savings plan.
#RDSP #Grants
RDSP Grant Entitlement Statement 2023
Every year an RDSP holder will receive a grant entitlement statement outlining how much in grants and bonds you may receive in the year.
RDSP Grant Entitlement Statement 2022
Every year an RDSP holder will receive a grant entitlement statement outlining how much in grants and bonds you may receive in the year.
