Through our partnership with Concentra Financial we’re able to offer RDSPs with a variety of investment options.
What is a Registered Disability Savings Plan
A Registered Disability Savings Plan (RDSP) is a long-term savings plan designed to help Canadians with disabilities and their families save for the future. It is specifically for individuals who are eligible for the Disability Tax Credit (DTC). RDSPs offer a way to save and invest with potential government matching grants and bonds, and offer tax-deferred growth.
Key Features:
Contribution flexibility – Anyone can contribute to an RDSP with the beneficiary’s consent, up to a lifetime limit of $200,000.00. There are no annual contribution limits.
Tax advantages – Invest income within the RDSP grows tax-free, and contributions are not taxed upon withdrawal. However government contributions and investment income are taxed when withdrawn.
Withdrawals – Funds can be withdrawn at any time, but withdrawals before the beneficiary turns 60 may have penalties depending on the last date of the government contributions.
