WELCOME to the home of RDSP advisor
An information source for the
Registered Disability Savings Plan - RDSP
The Canadian Federal Government will contribute up to $90,000 towards the pension of the disabled member of your family. There are hundreds of thousands out there who qualify (ie.DTC-eligible), but they must apply to get it.
|A great ASL video on RDSP|
- posted: Tuesday, June 01, 2010
Here is a great ASL video (7.29 minutes) explaining about RDSP - the Registered Disability Savings Plan - provided by Desjardins Financial Security. (The video is made by Slava Klimov)
Clik here to view the video
|RDSP 2009 - Only a few more days left ...|
- posted: Friday, December 18, 2009
December 31st is the last day to make a new application for the Registered Disability Savings Plan - RDSP - and still be eligible to receive the government Bonds and matching Grants for 2009. You can sign up at any of the following five major banks: Bank of Montreal, Royal Bank of Canada, Canadian Imperial Bank of Commerce, TD Canada Trust (TD Waterhouse) and the Bank of Nova Scotia.
|Scotiabank is offering RDSP|
- posted: Monday, November 23, 2009
The Scotiabank is the fifth major Canadian Bank to offer the Registered Diasability Savings Plan ( RDSP) to its clients. To open an account, simply call the Scotiabank Wealth Management Contact Centre at 1-877-929-4499 . . . more information . .
|TD Canada Trust / TD Waterhouse offering RDSP|
- posted: Friday, November 06, 2009
TD Canada Trust is the forth major Canadian Bank to offer the Registered Diasability Savings Plan ( RDSP) to its clients. It is available from TD Waterhouse.
To open an account, simply visit any TD Canada Trust branch or TD Waterhouse Investor Centre , or call 1-866-280-2022. Read more ...
|PM Steven Harper and Rick Hansen highlight government action for disabled Canadians|
- posted: Friday, October 30, 2009
Prime Minister Stephen Harper was joined today by well-known Canadian personality Rick Hansen on a tour of “Still Creek,” home of the Burnaby Association for Community Inclusion. Representatives of Planned Lifetime Advocacy Network (PLAN) attended the event and presented the Prime Minister with a lifetime membership to the organization.
“While barriers still exist, people like Rick Hansen are a testament to what can be accomplished through courage and determination,” said the Prime Minister. “Through initiatives like the Registered Disability Savings Plan, our government is helping Canadians with disabilities make even greater contributions to our country.”
To see video click here. To read the press release click here .
|Adult Guardianship and Planning Statutes Amendment Act, 2007 BC|
- posted: Saturday, October 10, 2009
Amendments will enable the incapacity planning provisions of the act, relating to advance directives, enduring powers of attorney and representation agreements, to be brought into force independently of the adult guardianship provisions. This will ensure important changes that strengthen incapacity planning instruments can be brought into force without unnecessary delay. read more ...
|WILLS, ESTATE AND SUCCESSION LAW MODERNIZED in BC|
- posted: Thursday, October 01, 2009
VICTORIA – September 14, 2009 A new legislation reintroduced today by Attorney General Michael de Jong, QC, will modernize and streamline the making of wills and administering of estates. Bill 4, the Wills, Estates and Succession Act, reduces the number of separate acts that involve estate law from seven to one, making the law in this area easier to use. Among refinements, the legislation provides a simplified procedure for administering smaller estates. read more ...
|Planning with Registered Disability Savings Plans|
- posted: Monday, September 14, 2009
A very comprehensive and well-researched article written by Jamie Golombek, Managing Director, Tax & Estate Planning for CIBC Private Wellth Management, was published on the Registered Disability Savings Plan in the Canadian Tax Journal. It is available both in Enclish and French at the following locations:
Planning with Registered Disability Savings Plans
|Are you still waiting for your RDSP matching government grant|
- posted: Saturday, August 08, 2009
If you are one of 15,000 Canadians who signed up for a registered disability savings plan (RDSP) by the March 2 deadline, you may be asking what happened to your matching government grant ... then read on ...
|Tax Tips & Guides for 2009|
- posted: Monday, March 09, 2009
In aid to help those who are preparing a tax return for the 2008 year (either for them self or for a family member - perhaps with a disability), we compiled a list of publications freely available on the Internet. To view the list go to page Tax Tips & Guides 2009.
Please, note that if the beneficiary of an RDSP Trust Plan had his/her birthday on or before December 31, 2007, then he/she has to have a tax return filed for each year starting by 2006 (even if he/she had NO income in that year) in order to qualify for the RDSP Bond and/or to receive the maximum amount of Grand available to him/her in 2008 and subsequent years.
|Application for the 2009 RDSP Grants and Bond.|
- posted: Tuesday, March 03, 2009As of March 2, 2009 acceptance of applications for RDSP Grants and Bond for 2008 has been closed. All RDSP applications received between March 3 and December 31, 2009 will be procesed as requests for 2009 Grants and Bond. If you applied for Grants and Bond in 2008 then you need not to reapply. It will be automatically resubmited for 2009 and subsequint years by your financial institute.
|RDSP & BMO on You Tube|
- posted: Sunday, March 01, 2009
|Has anybody opened an RDSP account at RBC or CIBC?|
- posted: Sunday, March 01, 2009
We would love to hear from anybody about their experience trying to open an RDSP account at either RBC or CIBC. Only one more day to left to apply for the 2008 Grants and Bonds and there is no detailed information available how to apply at either of these final institutions. Here are some comments we found on the Internet that you might be interested to read here and here.
|RDSP now available through CIBC |
- posted: Wednesday, February 25, 2009
TORONTO, Feb. 24 /CNW/ - CIBC (CM: TSX;NYSE) is now offering Registered Disability Savings Plans or 'RDSPs' to eligible clients. read more ...
|When the beneficiary's DTC eligibility has not been approved by the CRA - yet.|
- posted: Tuesday, February 24, 2009
Even if the beneficiary's DTC-eligibility has not been approved by the CRA yet, an RDSP account should be opened, if possible.
Revenue Canada Agency's (CRA) Registered Plans department will maintain the unregistered plan until April 30, 2010 to wait for the confirmation of the beneficiaries DTC-eligibility and only then will send the client a letter informing them of the closure if nothing has been received.
A person can still contribute to the plan, even though eligibility for the DTC may not have been established.
It is important that contributions and application for the matching grants and bonds are made in the year that they are requested for. (Exception is 2008 when the deadline has been extended to March 2, 2009)
The grant and bond portion of the RDSP will be retroactively applied when DTC eligibility has been confirmed.
In the worst case, if DTC-eligibility denied (there is an appeal process available) the account will be closed and the contributions returned to the beneficiary (or - as the plan never got registered - to the holder?).
Example, if a person applies on March 1, 2009 for the 2008 year and does not receive confirmation of their eligibility until 2010, they would still receive grants and bonds (where eligible) for the 2008, 2009 and 2010 years.
|When the beneficiary turned 18 in 2008.|
- posted: Monday, February 23, 2009
If the beneficiary turned 18 in 2008, then you as parents (preferably jointly) should open an RDSP account before March 2, 2009, regardless that the beneficiary qualifies to receive the bond and whether you are or not planning to make any contributions for 2008. The calender year after the year where beneficiary turns 18 (as of December 31) is the last year where parents can register as holders of the RDSP plan without acquiring legal authority for their adult (18 years or over) child. Once you are the holder of the plan - even in the event that your child reached the age of maturity - you can stay on as the holder of the plan.
After the beneficiary reached the age of the maturity, the parents - if they wish to become holders of the RDSP plan - they can be only if they have legal authority to manage the financial affairs of the beneficiary. In many cases - where the beneficiary does not have the mental capacity to sign a Power of Attorney - this means applying for Guardianship. Is an expensive and lengthy legal process and should be used only as the last resort.
|CRA Publication P4460 on RDSP|
- posted: Sunday, February 22, 2009
Revenue Canada Agency (CRA) recently a published an information pamphlet on Registered Disability Savings Plan (RDSP) that is available in both official languages, English and French. You can also order printed copies and multiple formats of this form, such as large print, Braille, audio, and E-text (accessible electronic text).
|CRA on Disability Tax Credit|
- posted: Saturday, February 21, 2009
The Revenue Canada Agency (CRA) has created a CD to provide people with a better understanding of the eligibility criteria for the DTC. It is available in both official languages, English and French.
|The Northwest Territories fully exempts the RDSP!|
- posted: Saturday, February 14, 2009
The Honourable Jackson Lafferty in a satement to the Legislative Assembly announced that the NWT Government will fully support the implementation of the Register Disability Savings Plan (RDSP).
"Mr. Speaker, I am pleased to confirm today that the Department of Education, Culture and Employment will fully exempt both the RDSP asset and RDSP withdrawals from consideration in the assessment process for all ECE Income Security Programs.
The Government of the Northwest Territories supports the Federal Government’s plan for persons with disabilities. This program supports our vision to give NWT residents the opportunity to become self-reliant as individual capacity allows, to participate fully in community life, and to share in opportunities available to them in their communities." read more ...
|Nova Scotia fully exempts the RDSP!|
- posted: Wednesday, February 11, 2009
Community Services Minister Chris d'Entremont announced earlier today:
The province is making it easier for families of people with disabilities to save for their loved one's future by allowing them to use tax-free Registered Disability Savings Plans. read more ...
Community Services will exempt Registered Disability Savings Plan contributions when calculating eligibility for programs like income assistance. Clients will also be able to withdraw funds from the plan without affecting their income assistance payments.
|RBC will start offering an RDSP product. |
- posted: Monday, February 09, 2009
TORONTO, February 9, 2009 — Starting February 16, 2009, RBC will offer Registered Disability Savings Plans (RDSPs), allowing eligible Canadians to take advantage of 2008 Canada Disability Savings Grants (CDSGs) and Canada Disability Savings Bonds (CDSBs). There will be no annual administration or withdrawal fees. To get more information and/or to book an appointment with an RBC Advisor please call 1-800-463-3863. read more ...
|Good News - Bad News|
- posted: Wednesday, February 04, 2009
The good news: BMO Bank of Montreal is responding to the popularity of the new Registered Disability Savings Plan by hiring additional call centre staff and establishing a dedicated phone line to keep up with customer demand.
"At the end of January we have set up more than 3,000 RDSP accounts from coast to coast," said Linda Knight, President and Chief Operating Officer, BMO Investments Inc., BMO Financial Group. "This level of demand is a testament to the popularity of this new program and its importance to Canadian families." (Source: CNW Group).
At this rate it is expected that there will be more than 6,000 who have opened an RDSP account by the March 2, 2009 deadline.
The bad news: This number still only represents less than 5% of those who qualify and could benefiit from it.
|Save for the Future! Turn $25 into $1,700|
- posted: Tuesday, January 20, 2009
Now British Columbians on provincial income assistance and their families can use the Registered Disability Savings Plan and Endowment 150 as long-term savings
The Vancouver Foundation published a nice brochure explaining how this could be done.
CLick to get it here.
|$150 for BC residents with disabilities to open an RDSP account|
- posted: Monday, January 12, 2009
VANCOUVER – The Province is providing a $5-million grant to the Vancouver Foundation to help British Columbians with disabilities increase their savings for the future, announced Rich Coleman, Minister of Housing and Social Development.
When British Columbians on income assistance open an RDSP with $25, they can apply to receive a $150 grant from the Endowment 150 fund. In addition, the federal government will provide a grant of $525 and a $1,000 federal bond. Within one year, clients can earn $1,700 plus interest from their original investment of just $25. read more ...
|Video - Families on RDSP|
- posted: Saturday, December 27, 2008
Families and the RDSP
Al Etmanski, PLAN president & Special Advisor to PLAN Institute
Rob & Cathy Bromley Shannon’s Parents ... view the video ...
|Video - RDSP announcement by Jim Flaherty|
- posted: Wednesday, December 24, 2008
Canadian Federal Government announcement of the RDSP by Minister Jim Flaherty Minister of Finance ... view the video ...
|Video - RDSP Announcement: Diane Finley |
- posted: Wednesday, December 24, 2008
RDSP Announcement: Diane Finley,Minister
Human Resources & Skills Development … view the video …
|Video - CBC Interview - RDSP & BMO with Laura|
- posted: Tuesday, December 23, 2008
|BMO started accepting applications to open RDSP accounts|
- posted: Monday, December 22, 2008
|Video - RDSP by Jack Styan|
- posted: Friday, December 19, 2008
Registered Disability Savings Plan announcement by Jack Styan, Executive Director of PLAN ... view the video ...
|BMO: First Canadian Bank to Offer RDSP|
- posted: Thursday, December 18, 2008
TORONTO, December 17, 2008 – BMO Bank of Montreal today announced it will be the first bank to offer Canadians the Registered Disability Savings Plan (RDSP), a new federal government initiative introduced to enhance the long-term financial security of people with disabilities.
Beginning December 22, 2008, customers can apply for a BMO RDSP through BMO’s investment call center, BMO Investment Centre (BMO IC) at 1-800-665-7700. read more ...
|RDSP starting up this month|
- posted: Tuesday, December 16, 2008
Norma Greenaway, Canwest News Service, Saturday, December 13, 2008
OTTAWA -- Imagine putting $1,500 into a savings account and having the government top that up with $4,500. And imagine that happening every year for several years. Sound too good to be true? Not for Kalman and Julie Fejes. They are parents of an adult daughter, Ildiko, with Down syndrome who is expected to qualify for the maximum in federal grants and bonds for 11 years under a new program being rolled out this month as the latest addition to Canada's social safety net.
Julie is the Board of President and one of the founding members of Lifetime Networks Ottawa, an affiliate of PLAN (Planned Lifetime Advocacy Network) which developed and successfully sold RDSP to the federal Government.
Edmonton Journal Vancouver Sun Ottawa Citizen read more ...
Montreal Gazette Times Colonist
Calgary Herald Regina Leader-Post
|PEI exempts RDSP ... for some|
- posted: Thursday, December 11, 2008
The Government of Prince Edward Island announced today to exempt RDSP, both assets and income, for those whose total income does not exceed the low-income level defined by the National Council of Welfare. read more ...
|New Brunswick exempts the RDSP|
- posted: Wednesday, December 10, 2008
The Government of New Brunswick announced today to exempt RDSP. “RDSPs will allow families to invest in the long-term financial needs of their children with disabilities,” Minister Mary Schryer said. “This will make it easier for families to save for their children who have disabilities, while also ensuring that these savings do not affect their child’s eligibility for disability supports.”
Assets are fully exempted, income only partially up to $800/month, based on the the Low Income Cut-Off as determined by Statistics Canada, read more ...
|New RDSP website|
- posted: Friday, December 05, 2008
Planned Lifetime Advocacy Network (PLAN) announced the launch of a new website www.rdsp.com, dedicated exclusively to publish information on RDSP and related fields. It contains both historical information and the latest news items. You can reach it from our RDSP resources page.
|Quebec (partially) exempts RDSP!|
- posted: Monday, December 01, 2008
Quebec is the eighth province to state their position (via changes to the Regulations) regarding RDSP and the first one not providing full exemption. Assets are fully exempted. Incomes up to $300 and $340 per month for individuals and couples, respectively. read more ...
See the Regulations ...
|Ontario Exempts the RDSP!|
- posted: Sunday, November 30, 2008
read more ...
Today, the 30 of November, the government of Ontario (ON) annouced that they will be fully exempting the RDSP as an asset and income for people receiving provincial financial assistances (ODSP). Ontario is the seventh province joining the group - BC, Newfoundland, Saskatchewan, Manitoba, Alberta and Yukon - who all have come out and fully exempted the RDSP.
|Alberta Exempts the RDSP!|
- posted: Thursday, November 27, 2008
Today, the 27 of November, the government of Alberta annouced that they will be fully exempting the RDSP as an asset and income for people receiving provincial financial assistance programs. Alberta is the six province joining the group of five - BC, Newfoundland, Saskatchewan, Manitoba and Yukon - who all have come out and fully exempted the RDSP. read more ...
|Manitoba exempst RDSP|
- posted: Saturday, November 22, 2008
On November 21 the Government of Manitoba announced that they will be exempting the RDSP as an asset and income for those receiving Employment and Income Assistance (EIA) from the province. The following quote is from the Throne Speech:
"Manitobans with disabilities will have their eligibility for provincial supports expanded, by exempting federal Registered Disability Savings Plans from eligibility assessments." read more ...
|RDSP Information Bulletine - FREE|
- posted: Monday, November 10, 2008
Planned Lifetime Advocacy Network (PLAN) has made thrir most recent informational Bulletin, Canada’s New RDSP, available to you as a PDF download FREE.
Understanding how to best use the RDSP for our families is complicated. We brought together families and professionals to develop the most comprehensive information so far about the RDSP. The result: a combination of professional and lay advice; technical articles and personal stories.
Topics include: The RDSP: - Contributions, Grants and Bonds; - Holding and Operating an RDSP; - Advantages of the RDSP; - Payments from the RDSP; - Annuities; - Family Stories;
To receive a FREE copy of Canada’s New RDSP you can click on this link: PLAN Bulletin - The RDSP
|Get ready to open an RDSP Plan! |
- posted: Monday, November 03, 2008
According to our latest information, starting in December, four financial institutions will be ready to accept applications for RDSP. Three of theses, a major bank and two currently RESP providers, will be offering it to the general public, the fourth one - an association - only to its own members. Keep checking back for more details.
|Updated government website on RDSP |
- posted: Thursday, October 30, 2008
|Prime Minister Harper’s election promise for families with a family member with disability|
- posted: Friday, September 19, 2008
Today, Prime Minister Stephen Harper announced that a re-elected Conservative Government will introduce important financial changes to benefit families that care for family member(s) with disability.
read more ...
- Allow families to split their income between spouses to reduce their taxes in situations where one spouse is not working full-time in order to care for one or more family members with disabilities – whether children or adults.
- Improve the Registered Disability Savings Program by making it easier for a person with disabilities to access money that has been transferred from the unused retirement savings (RRSP, RIFF) of a deceased family member.
|Saskatchewan exempts RDSP |
- posted: Thursday, September 04, 2008
This morning in a news release by the Minister of Social Services for Saskatchewan Donna Harpauer is quoted as saying:
read more ...
"The exemption of RDSP assets and income from social assistance calculations makes sense for a number of reasons. Most importantly, it will encourage individuals with disabilities and parents of children with disabilities to create RDSPs without having to worry that the assets will be clawed back when withdrawals are made on behalf of the beneficiaries."
|Sylvia Jones MPP on Bill 94 (Ontario), RDSP and ODSP|
- posted: Friday, August 22, 2008
On Thursday, August 21st the Caledon Citizen features an article by MPP Sylvia Jones about her proposed legislation (Bill 94) have the RDSP exempted as an asset in Ontario. She writes:
"As Progressive Conservative Critic for the Ministry of Community and Social Services, I introduced a private member's bill (94) to address the inequity in Ontario. After speaking with families who were trying to plan for the financial future for their disabled children, I drafted the Social Assistance Statues Law Amendment Act (Registered Disability Savings Plans), 2008. The purpose of my private member's bill is to allow Ontario families to save by removing the RDSP as an asset when calculating monthly disability benefits." read more ...
|Our disability welfare system needs rebuilding|
- posted: Friday, August 01, 2008
"Provinces and territories must amend legislation to ensure benefits are not clawed back." read more ...
ANDRE PICARD From Thursday's Globe and Mail, July 31, 2008
|CTV news report in support of Bill 94 (Ontario)|
- posted: Saturday, July 19, 2008
Friday night July 18, CTV on the 6 o'clock local (Ottawa) news aired a report on RDSP and Sylvia Jones MPP (Dufferin-Caledon) and Progressive Conservative Community and Social Services Critic private member's Bill 94 (Ontario) to change the ODSP rules to exempt RDSP assets and income when calculating ODSP benefits.
Ms. Meilleur, Minister of Community and Social Services, was not available for comments. A spokeperson in her office indicated that they are aware of Bill 94, are considering it, and hope to have a decision made by the time the RDSP plan will become available, most likely in December 2008.
This means is that the provincial government will keep the ODSP recipients (and there are about 450,000 of them in Ontario with a significant number eligible for RDSP) in the dark until the last minute.
Missing a chance to sign up this year for some could result in the loss of tens of thousands of dollars (missed grants, bonds and interest).
View the video Catherine Lathem with the savings plan.
|Yukon exempts RDSP|
- posted: Wednesday, July 16, 2008
Yukon is the first territory to do so, joining the provinces of British Columbia and Newfoundland Labrador in allowing to receive the full benefits of the Registered Disability Savings Plan (RDSP) without claw-back on their provincial social assistance payments. read more ...
|When can Canadians sign up for RDSP?|
- posted: Sunday, July 06, 2008
The following bits of information might be an indication of the Federal Government's readiness to process applications for the Registered Disability Savings Plan.
On June 14 2008, HRDC issued a request for proposal closing on June 23, with the following description of requirements:
"Budget 2007 announced the introduction of a Registered Disability Savings Plan (RDSP) as a savings vehicle to assist families in providing for the financial security of a child with a severe disability. The Government of Canada is committed to investing in families and Canadians with disabilities through initiatives including the RDSP to which both individuals and the government will contribute. Government contributions will consist of a Canada Disability Savings Grant (CDSG) and a Canada Disability Savings Bond (CDSB). These new disability savings incentives have been long-awaited within the disability community, and as such, the Government of Canada wants Canadians to be able to establish RDSP accounts by December 2008 so that they can have access to these incentives for 2008. Therefore, systems must be in place to register an RDSP and to pay out the CDSG and CDSB by December 2008."
The following companies were invited to bid:
Promaxis Systems Inc., Ian Martin Limited, IBM Canada LTD., Ajilon Canada Inc. and
MSC Maplesoft Consulting Inc. .
|RDSP Regulations are Published|
- posted: Thursday, June 26, 2008
June 25, 2008 - The Regulations for the Registered Disability Savings Plan were published in the Canada Gazette. [Part II, page 16-24, Bookmark: SOR/DORS2008-186] read more ...
|Ontario - ODSP news|
- posted: Tuesday, June 24, 2008
On June 12, Ms Sylvia Jones, Ontario MPP (Dufferin –Caledon) introduced a private member's bill in the Ontario legislature that, if passed (it passed 1st reading), will prevent the provincial Liberals from “clawingback” investments made into a Registered Disability Savings Plan (RDSP). read more ...
|Newfoundland Exempts RDSP|
- posted: Thursday, April 10, 2008
The provincial government of Newfoundland and Labrador has amended its regulations to exempt the RDSP from the calculation of income support benefits. read more ...
|Manitoba government will allow RDSP|
- posted: Monday, December 31, 2007
December 31, 2007- The Manitoba the recipients of the Employment and Income Assistance (EIA) will be allowed to receive the full benefits of the Registered Disability Savings Plan (RDSP) without having their EIA benefits reduced - based on the statement made in the “MANITOBA BUDGET 2007 - Budget Paper E" [see at bookmark: "Manitobans with Disabilities"]
"The federal government has recently announced plans for a Registered Disability Savings Plan (RDSP). Manitoba is supportive of an initiative that encourages asset-building and financial independence for persons with disabilities, and will co-ordinate provincial programming so income assistance participants with disabilities will also receive this benefit. It is similar to measures Manitoba already has in place. For example, Manitoba already allows EIA recipients to set aside these kinds of trust funds to contribute to the quality of life for people with disabilities, without affecting their EIA rates. Manitoba also supports savings for similar programs for the future, such as Individual Development Accounts. The Disabilities Issues Office continues to work with government departments and community partners to implement the commitment made in Full Citizenship."
read more ...
|RDSP gets Royal Assent|
- posted: Thursday, December 20, 2007
December 19, 2007, Ottawa - Bill C-28, which included the Registered Disability Savings Plan was given Royal Assent and enacted into law on December 14, 2007. Read the press release read more ...
|Canada Disability Savings Act|
- posted: Friday, November 30, 2007
On November 21st Minister Flaherty tabled legislation to create the Registered Disability Savings Plan as part of Bill C-28.The provisions of the Canada Disability Savings Act come into force on a day or days to be fixed by order of the Governor in Council. read more ...
Text of the first reading version can be viewed