RDSP

Question 1

Amount of eligible people who have RDSP

Answer 1

Less than 1/3

Question 2

Who is eligible for RDSP?

Answer 2

People who:
-Are a Canadian Resident
-Have a SIN
-Qualify for the Disability Tax Credit
-Are under 60 years of age

Question 3

CDSG Grant for Family income < $114 750

Answer 3

-First $500, $3 grant on every dollar contributed
-Next $1000, $2 grant on every dollar contributed
(up to $3500 a year)

Question 4

CDSG Grant for Family income > $114 750

Answer 4

-First $1000, $1 grant on every dollar contributed
(up to $1000 a year)

Question 5

Max Match from Government and year they match until

Answer 5

Grants up to $70 000 until beneficiary turns 49 years old

Question 6

Canada Disability Savings Bond

Answer 6

$1000 per year from Government for low income families ($32 028 or less).

Up to $20 000 total, up to age 49.

Question 7

Lifetime contribution Limit

Answer 7

$200 000

Question 8

Who can contribute to RDSP?

Answer 8

Anyone can contribute with written consent from the account holder.

Question 9

How far can you backdate application for grants and bonds?

Answer 9

Back to the date of diagnosis, to a maximum of ten years.

Question 10

Maximum grant and bond for an account in a single year (When back-dated)

Answer 10

$10 500 for CDSG
$11 000 for CDSB

Question 11

Role of the account holder of an RDSP

Answer 11

-Open the account
-Makes contributions
-Authorizes third party contributions

Question 12

Role of the beneficiary of an RDSP

Answer 12

Person with the disability who will benefit from the RDSP