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ODSP & RDSP Services that Clash ?
The Ontario Disability Support Program ( ODSP ) and the Registered Disability Savings Plan ( RDSP ) seem to be contradictory to each other. What is an ODSP? The on-line resources say: ODSP income...
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Apply for the DTC Please
I have spoken with a few folks who have convinced themselves they can’t get the Disability Tax Credit (DTC), so they won’t apply for it. Given the stories lately, about the CRA rejecting many...
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RDSP Statement of Grant Entitlement
Who knew that this time of year had so many financial events? You have the RRSP deadline, tax preparation time and for some another important event. At the beginning of February I receive the Annual...
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Why an RESP for a Disabled Child ?
I have set up an RESP for my son. For those who don’t remember, my son is on the Autism Spectrum, so why would I not put money into this RDSP, instead of an RESP? There are a few reasons for an RESP...
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RDSP Statement of Grant Entitlement 2019
Each year we receive an RDSP Statement of Grant Entitlement from the government. This statement tells us how much my son will receive in grants on his RDSP (for this year). There is also a statement...
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RDSP : A Really Long-Term Savings Plan
The buzz-phrase for investing has always been, “Invest for the long-term”. The RDSP (Registered Disability Savings Plan) is actually designed with that concept in mind. It is a really long-term...
View ArticleRDSP and Budget 2019
Budget 2019 is finally out, and it has a whole treasure trove of goodies. It is truly an election year budget with promises of the future (if you reelect the current government). I will allow much...
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RDSP Statement of Grant Entitlement 2020
Every year, an RDSP holder gets an update about how much money can be put into their RDSP. The statement of Grant Entitlement, says how much money and how much the government will match, with a Grant....
View ArticleMore RDSP and DTC Talk
In March 2020 I spoke with Tom Drake at Maple Money about the DTC and RDSP. After some judicious editing Tom has published the Podcast here. As usual, you can read about the RDSP on my Registered...
View ArticleRDSP : Quick Points
Tom Drake interviewed me a while ago, and we were going to chat about the RDSP (Registered Disability Savings Plan). We did end up mostly talking about the Disability Tax Credit (DTC), but it was...
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When to Put Money in RRSP
I have developed a relatively straightforward heuristic for figuring out your RRSP. heu·ris·tic adjectiveenabling a person to discover or learn something for themselves.”a “hands-on†or...
View ArticleSpecified Disability Savings Plan – SDSP – How Does it Work ?
Let me preface this with, this stuff is complicated. I have read over the documentation, and this is my interpretation of what I have read. While it is important to have rules to ensure systems are...
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RDSP after DTC Lost
Federal Budget 2019 announced that loss of DTC would no longer be a reason to close a RDSP and repay grant and bond. The budget also stated that the measure would start as of budget day, March 19,...
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RDSP Grant Entitlement Statement 2021
Every year, an RDSP holder gets an update about how much money can be put into their RDSP. The Statement of Grant Entitlement, says how much money and how much the government will match, with a Grant....
View ArticleChanges to Disability Tax Credit
The proposed 2021 Federal Budget has possible changes to how disabilities are evaluated. Specifically, “…update the list of mental functions of everyday life that is used for assessment for the...
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TD Direct Investing RDSP Deposits
I write specific articles yearly as an update on previous reports. Not many things change in my financial world. Unfortunately, my ability to deposit in my son’s RDSP is one of those. Some of my...
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RDSP Grant Entitlement Statement 2022
As with each year, we receive a Grant Entitlement Statement for my son’s RDSP. This year is no different, but things may change soon. Estimated reading time: 2 minutes RDSP Grant Entitlement 2022...
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RDSP Grant Entitlement Statement 2023
Each year, we receive a Grant Entitlement Statement for my son’s RDSP. This year is no different, but things will change next year. Estimated reading time: 2 minutes RDSP Grant Entitlement 2023 Grant...
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RDSP: Grants Early or Later?
Do you take the grants when they are a child, or do you wait until the grants are larger? Note this is really for parents of disabled children or loved ones under the age of 18. I have been asked this...
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Savings as a Financial Misnomer
The word Savings appears in many different Registered investing vehicles. Specifically: The Registered Education Savings Plan (RESP) Registered Disability Savings Plan (RDSP) Tax-Free Savings Account...
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Statement of Grant with No DTC
What happens when your son’s DTC from the CRA expires? Plenty, but not much of it useful. I received my son’s Statement of Grant a week ago and got a follow-up call from TD. I hope it was TD,...
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RDSP: Statement of Grant (Follow on)
After sending a quick email to the HSRDC folks, I was happy to get a call back from them. They have an email contact on the RDSP (Registered Disability Savings Plan) page, so I used that to contact...
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