Registered Disability Savings Plan, commonly known as RDSP is a great savings plan for individuals who are disabled and qualify for the disability tax credit.
Individuals can contribute up to $200,000 in the RDSP with the gov’t matching the contributions within certain limits and depending on the individuals and/or family’s income.
At the very least The Gov’t will contribute $20,000 into one’s RDSP over a period of time and in many cases a lot more.
The money grows tax free within the RDSP until it’s withdrawn. In our organization we have an investment advisor, a former Canada Revenue Agency Auditor, who can help you in the preparation, filing of tax returns and investing in the RDSP.