RDSPs: Free money ($1000/yr) from the gov't for ppl with disabilities

[innoxia]

Hopefully this isn't news to anyone, but if anyone on my flist qualifies for the Disability Tax Credit [or thinks they would], note that the gov't announced late last year the introduction of a new registered plan called RDSP - Registered Disability Savings PlanThe short of it is, if you are an adult and your annual net income is $21,287 or less,

Comments

[lost_cosmos]

ahhhh there is even MORE of a catch to this than what you've posted.

if you qualify, you or someone in your name has to be able to contribute a minimum of $50 per MONTH to your account as well, regardless of what your circumstances are.

its a fucking joke.

basically all this is is for part time workers who won't ever qualify for an rrsp [ie mom's of a 2 income family that work part time] being able to freely high interest squirrel money away in an account only they have complete access to. better off with the TFSA....oh WAIT its the same thing except no kick backs and anyone can has it.

[innoxia]

really? dang, that sucks. how did you find out? i hadn't seen that in any literature.

[lost_cosmos]

my mom went in and had a meeting for one when her doctor [a COMPLETE fuckwad but thats beside the point] gave her the literature.

its the government of COURSE there is more to it than they have in the literature lol.

[whimsicalzephyr]

We can only get this set up my March 2?

[innoxia]

march 2 for 2008 only, i mean. it is available every year at this point on, i am just referring to the 2008 tax year. just like with an RRSP - you can contribute every year but there is a deadline for that particular tax year.

[cwth]

There was an article on RDSPs in last Saturday's Globe, in case it's of any interest.