Qualifying for the RDSP Canada

Who Qualifies?

There are certain requirements that must be fulfilled before a person can invest in an RDSP, for both the beneficiary and the holder.

The Beneficiary:

  1. Must be eligible for the Disability Tax Credit (DTC) with a CRA approved Disability Tax Credit Certificate (For T2201);
  2. Must possess a Social Insurance Number (SIN);
  3. Must be a resident of Canada;
  4. Must be under the age of 60; age 49 or less to receive grants and bonds
  5. Must have only 1(ONE) RDSP at any given time.

The Holder

  1. For beneficiaries under the age of majority, holder must be a parent or legal guardian authorized to act on their behalf;
  2. For beneficiaries over the age of majority, holder must be authorized to act on their behalf;
  3. The beneficiary may open an account as the holder if they are personally legally able to enter into a contract.
  4. NOTE: A RDSP can have several holders throughout its existence and may have more than one plan holder at any given time.

Disabilities that Qualify for the Disability Tax Credit

The following is a list of some of the medical conditions that may entitle you to the disability tax credit (DTC) and other benefits. This list does not include every medical condition that may qualify for assistance.

Agoraphobia
ADHD
Alzheimer’s
Amputation
Anxiety
Arthritis
Asperger Syndrome
Ataxia
Autism
Bipolar
Bladder Disorder
Borderline Personality Disorder (BDP)
Bowel Disorder
Brain Tumour
Cerebral Palsy (CP)
Charcot-Marie-Tooth Disease
Chronic Pain
Chronic Obstructive Pulmonary (COPD)
Colitis
Coronary Artery Disease
Cri du chat Syndrome
Crohn’s Disease
Cystic Fibrosis (CF)
Deaf
Degenerative Disc Disease (DDD)
Dementia
Depression
Developmental Delay
Diabetes (Insulin Dependent)
Down Syndrome
Ehlers-Danlos Syndrome
Epilepsy
Fetal Alcohol Syndrome (FAS)

Fibromyalgia
Fragile X Syndrome
Glaucoma
Global Developmental Delay
Hearing Impairment
Herniated Disc
Hip Injury or Pain
Huntington’s Disease
Irritable Bowel Syndrome (IBS)
Juvenile Arthritis
Learning Disability
Lou Gehrig’s (ALS)
Mental Illness
Motor Vehicle Accident
Multiple Sclerosis (MS)
Obsessive Compulsive (OCD)
Osteoarthritis (OA)
Panic Disorder
Paraplegia
Paralysis
Parkinson’s Disease (PD)
Personality Disorder
Physical Impairment
Post Traumatic Stress (PTSD)
Psoriatic Arthritis
Psychosis
Quadriplegia
Rheumatoid Arthritis (RA)
Schizophrenia
Plus many more

Possible Obstacles in the Approval Process

The First:
As of January 2016, as a holder, you will have been legally authorized to act on the behalf of the person who will be the Beneficiary. For children, this is usually the parents or guardians. For adults, this requires that you have Trusteeship for this person.

The Second:
The name on the holder(s) and the beneficiary SIN card must match.  If not, this will delay the grants and bonds from going into your account.

The Third:
There is a lot of information published about RDSPs, not all of it relates to your specific situation. Some information sources report old or wrong information. Make sure that the information that you are referencing is from your province and relates to your specific situation.

Are you ready to apply?

If you would like to get your RDSP set up, we will need some information to prepare the paperwork and then about an hour of your time to go through it.  After that, it is time for the government grants and bonds, whatever you qualify for, to start rolling in!

There are a couple of ways to do this:
1.       Fill out the information required through our secured site – Click Here
2.       Email us for further information – Contact Us
3.       Call us to discuss further. – Call Us

Registered Disability Savings Plan | Planning for Your Future

Qualifying for the RDSP Canada

Who Qualifies?

There are certain requirements that must be fulfilled before a person can invest in an RDSP, for both the beneficiary and the holder.

The Beneficiary:

  1. Must be eligible for the Disability Tax Credit (DTC) with a CRA approved Disability Tax Credit Certificate (For T2201);
  2. Must possess a Social Insurance Number (SIN);
  3. Must be a resident of Canada;
  4. Must be under the age of 60; age 49 or less to receive grants and bonds
  5. Must have only 1(ONE) RDSP at any given time.

The Holder

  1. For beneficiaries under the age of majority, holder must be a parent or legal guardian authorized to act on their behalf;
  2. For beneficiaries over the age of majority, holder must be authorized to act on their behalf;
  3. The beneficiary may open an account as the holder if they are personally legally able to enter into a contract.
  4. NOTE: A RDSP can have several holders throughout its existence and may have more than one plan holder at any given time.

Disabilities that Qualify for the Disability Tax Credit

The following is a list of some of the medical conditions that may entitle you to the disability tax credit (DTC) and other benefits. This list does not include every medical condition that may qualify for assistance.

Agoraphobia
ADHD
Alzheimer’s
Amputation
Anxiety
Arthritis
Asperger Syndrome
Ataxia
Autism
Bipolar
Bladder Disorder
Borderline Personality Disorder (BDP)
Bowel Disorder
Brain Tumour
Cerebral Palsy (CP)
Charcot-Marie-Tooth Disease
Chronic Pain
Chronic Obstructive Pulmonary (COPD)
Colitis
Coronary Artery Disease
Cri du chat Syndrome
Crohn’s Disease
Cystic Fibrosis (CF)
Deaf
Degenerative Disc Disease (DDD)
Dementia
Depression
Developmental Delay
Diabetes (Insulin Dependent)
Down Syndrome
Ehlers-Danlos Syndrome
Epilepsy
Fetal Alcohol Syndrome (FAS)

Fibromyalgia
Fragile X Syndrome
Glaucoma
Global Developmental Delay
Hearing Impairment
Herniated Disc
Hip Injury or Pain
Huntington’s Disease
Irritable Bowel Syndrome (IBS)
Juvenile Arthritis
Learning Disability
Lou Gehrig’s (ALS)
Mental Illness
Motor Vehicle Accident
Multiple Sclerosis (MS)
Obsessive Compulsive (OCD)
Osteoarthritis (OA)
Panic Disorder
Paraplegia
Paralysis
Parkinson’s Disease (PD)
Personality Disorder
Physical Impairment
Post Traumatic Stress (PTSD)
Psoriatic Arthritis
Psychosis
Quadriplegia
Rheumatoid Arthritis (RA)
Schizophrenia
Plus many more

Possible Obstacles in the Approval Process

The First:
As of January 2016, as a holder, you will have been legally authorized to act on the behalf of the person who will be the Beneficiary. For children, this is usually the parents or guardians. For adults, this requires that you have Trusteeship for this person.

The Second:
The name on the holder(s) and the beneficiary SIN card must match.  If not, this will delay the grants and bonds from going into your account.

The Third:
There is a lot of information published about RDSPs, not all of it relates to your specific situation. Some information sources report old or wrong information. Make sure that the information that you are referencing is from your province and relates to your specific situation.

Are you ready to apply?

If you would like to get your RDSP set up, we will need some information to prepare the paperwork and then about an hour of your time to go through it.  After that, it is time for the government grants and bonds, whatever you qualify for, to start rolling in!

There are a couple of ways to do this:
1.       Fill out the information required through our secured site – Click Here
2.       Email us for further information – Contact Us
3.       Call us to discuss further. – Call Us