REGISTERED DISABILITY SAVINGS PLAN CONTRIBUTIONS

RDSP EXPERT FOR PEOPLE WITH DISABILITIES IN CALGARY, ALBERTA

HELPING YOU GET A BETTER UNDERSTANDING OF REGISTERED DISABILITY SAVINGS PLAN (RDSP), DISABLED TAX CREDIT, AND MUCH MORE!

Welcome to the RDSPlan.ca contributions page. 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 3 different scenarios to help illustrate some of the contributions that can be obtained.

SCENARIO #1

Nathan is a 36 year old lawyer who has Type 1 Diabetes, and has had diabetes since 1989. His annual income is $150,000. He just found out that he qualified for the Disability Tax Credit (DTC) and would now like to open his Registered Disability Savings Plan Account (RDSP). Since he qualified for the DTC prior to 2008 (the year the RDSP came into effect), Nathan is going to fund his RDSP as follows to collect the grants that he has coming to him:

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

 

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