Registered Disability Savings Plan Contributions
RDSP Specialist for people with disabilities in Calgary, Alberta
Helping you get a better understanding of the Registered Disability Savings Plan (RDSP), Disabled Tax Credit, and much more!
Due to individual factors, each eligible participant qualifies for different grants and, in turn, varying degrees of contributions. We have taken the liberty of putting together three different scenarios to illustrate some of the RDSP contributions that can be achieved.
SCENARIO #1
| Year | Contributions | Grants (1:1) |
Total |
|---|---|---|---|
| 2016 | $9000 | $9000 | $18,000 |
| 2017 | $1000 | $1000 | $20,000 |
| 2018 | $1000 | $1000 | $22,000 |
| 2019-2029 | $11,000 | $11,000 | $44,000 |
| TOTALS | $22,000 | $22,000 | $44,000 |
SCENARIO #2
Michelle is a single mother of a son with Autism. He is 9 years old and has qualified for the DTC since 2007. She has a part-time job and makes $20,000 annually. She qualifies for grants and bonds, and funds the RDSP as follows:
| 9 | 2014 | $2000 | $6000 | $1000 | $9000 | |
| 10 | 2015 | $2000 | $6000 | $1000 | $18,000 | |
| 11 | 2016 | $2000 | $1500 | $3000 | $1000 | $25,500 |
| 12 | 2017 | $2000 | $1500 | $3000 | $1000 | $33,000 |
| 13 | 2018 | $2000 | $1500 | $3000 | $1000 | $40,500 |
| 14 | 2019 | $2000 | $1500 | $3000 | $1000 | $48,000 |
| 15 | 2020 | $2000 | $1500 | $3000 | $1000 | $55,500 |
| 16 | 2021 | $2000 | $1500 | $3000 | $1000 | $63,000 |
| 17 | 2022 | $2000 | $1500 | $3000 | $1000 | $70,500 |
| 18 | 2023 | $2000 | $1500 | $3000 | $1000 | $78,000 |
| 19 | 2024 | $2000 | $1500 | $3000 | $1000 | $85,500 |
| 20 | 2025 | $2000 | $1500 | $3000 | $1000 | $93,000 |
| 21 | 2026 | $2000 | $1500 | $3000 | $1000 | $100,500 |
| 22 | 2027 | $2000 | $1500 | $3000 | $1000 | $108,000 |
| 23 | 2028 | $1750 | $1500 | $2500 | $1000 | $114,750 |
| 24 | $1000 | $115,750 | ||||
| 25 | $1000 | $116,750 | ||||
| 26 | $1000 | $117,750 | ||||
| 27 | $1000 | $118,750 | ||||
| 28 | $1000 | $119,750 | ||||
| TOTALS | – | $29,750 | $31,500 | $38,500 | $20,000 | $119,750 |
| Total Grants | $70,000 | |||||
| Total Bonds | $20,000 |
SCENARIO #3
Jonathon is 35, has Cerebral Palsy and is married to Nancy. Their combined annual household income is $70,000. Jonathon has had the DTC since prior to 2008 and would like to catch up on the unused past grants available to him. This is how they fund his RDSP:
| Age | Year | Contributions | Grants (3:1) | Grants (2:1) | Total |
| 35 | 2016 | $3,500 | $10,500 | $14,000 | |
| 36 | 2017 | $4,500 | $4,500 | $6,000 | $29,000 |
| 37 | 2018 | $5,000 | $1,500 | $9,000 | $44,500 |
| 38 | 2019 | $5,000 | $1,500 | $9,000 | $60,000 |
| 39 | 2020 | $1,500 | $1,500 | $2,000 | $65,000 |
| 40 | 2021 | $1,500 | $1,500 | $2,000 | $70,000 |
| 41 | 2022 | $1,500 | $1,500 | $2,000 | $75,000 |
| 42 | 2023 | $1,500 | $1,500 | $2,000 | $80,000 |
| 43 | 2024 | $1,500 | $1,500 | $2,000 | $85,000 |
| 44 | 2025 | $1,500 | $1,500 | $2,000 | $90,000 |
| 45 | 2026 | $1,500 | $1,500 | $2,000 | $95,000 |
| 46 | 2027 | $1,500 | $1,500 | $2,000 | $100,000 |
| 47 | 2028 | $1,500 | $0 | $0 | $101,500 |
| 48 | 2029 | $1,500 | $0 | $0 | $103,000 |
| Totals | $33,000 | $30,000 | $40,000 | $103,000 | |
| Total Grants | $70,000 |
Don’t hesitate, get the financial assistance available to you today!
The Registered Disability Saving Plan (RDSP) is a passion of ours, and we want every eligible Canadian to have one. We live and breathe this program and look forward to helping you.
We help individuals and families understand RDSP options and next steps.
Book an appointment to learn more.