RDSP

Question 1

Eligibility?

Answer 1

Eligible for Disability Tax Credit, resident of Canada and less than 60

Question 2

Contribution?

Answer 2

Anyone can with holder’ written consent. No annual limit but lifetime limit of $200,000

Question 3

Canada Disability Savings Grant

Answer 3

Maximum yearly upto $3500 and lifetime max of $70,000

Question 4

Canada Disability Savings bond

Answer 4

To low income family, offered regardless of amount contributed $1000 annually and $20,000 lifetime

Question 5

Matching grant and bond needs to be invested min ___ years

Answer 5

10 years

Question 6

Matching grant and bond contribution until?

Answer 6

Beneficiary’ 49th year

Question 7

Grant calculation

Answer 7

Income $98,040 or less
First $500, $3 for $1 cont, $1500 max
Next $1000, $2 for $1 cont, $2000 max
=$3500 max

Income >$98,040
First $1000, $1 for $1, $1000 max

Question 8

Numbers of RDSP can be held

Answer 8

1 account

Question 9

Redemption options

Answer 9

1 Lifetime Disability Assistance Payments (LDAP), recurring payments must start age 60, 10%