A Registered Disability Savings Plan is a government-assisted and tax-deferred savings account designed to help parents and caregivers save for the long-term financial security of a relative or beneficiary who qualifies for the Disability Tax Credit (DTC) as approved by the Canada Revenue agency (CRA).
Investment earnings in a RDSP accumulate tax-free until withdrawal, helping your savings grow more efficiently.
When eligible, your RDSP attracts matching grants and bonds from the federal government, a fantastic tool to boost your savings.
Your RDSP's plan is designed to adapt alongside your life. You can contribute over many years, and the RDSP can remain open for decades.
Holder (Subscriber): Typically a parent, legal guardian, or individual themselves may open the RDSP.
Beneficiary: Must have a valid Social Insurance Number, be a resident of Canada, and be eligible for the Disability Tax Credit (DTC) when the RDSP is set up.
Book an appointment at your preferred Kawartha branch and speak with your advisor to discuss how a RDSP can help people with disabilities save for their long-term financial needs.
