Registered disability support program

Contributions to an RDSP are not tax deductible and can be made up until the year the beneficiary turns Grants and bonds must remain in the RDSP for at least 10 years; and, if used, they must be paid back. The earnings in an RDSP accumulate tax-free until money is taken out.

An RDSP can be opened at any bank. If the beneficiary has reached the age of majority but is not legally able to enter into a contract, another qualified person may open an RDSP for the beneficiary and become a holder:. If a holder who is not the beneficiary is no longer qualified to be a holder e.

The ODSP helps people with disabilities who are in financial need of living expenses food, clothing, housing, etc. You must be deemed to be living in poverty in order to qualify for support. Therefore, if you inherit a sizeable amount of money or other assets, you may be disqualified from receiving benefits under the ODSP.

To qualify for the DTC, a person must have a "severe and prolonged mental or physical impairment". For more information: Visit the Canada Revenue Agency's website. Or call the Canada Revenue Agency's general enquiry line: to speak with an agent; TTY service What are RDSPs? A Registered Disability Savings Plan RDSP is a federal tax-supported savings vehicle that is intended to encourage people to save for the future needs of a person with a disability.

Ontario is supporting RDSPs as a way to help families save for children and adults with disabilities, and to help people with disabilities plan for their future needs. Savings through RDSPs may mean greater independence and a better quality of life for people with disabilities. How do RDSPs affect eligibility for social assistance?