Tax-sheltering disability savings, with a government boost

The Registered Disability Savings Plan (RDSP) is a Canada-wide registered matched savings plan specifically for people with disabilities.

Specifically, the RDSP is a long-term savings tool for a person who is eligible for the disability tax credit (DTC)

The perks and privilege of RDSPs

Ignite your Savings with Government Grants

For every $1 put in an RDSP account, the federal government can match with up to $3! Plus, depending on your family income, additional grants may be available. 

Keep more, save more

Earnings in your plan are tax-sheltered. When withdrawn, those earnings are typically taxed in the hands of the beneficiary, not the contributors.

Easily accessible when you need it

People with disabilities can choose what to do with the money when it comes out. There are no restrictions on how the money can be spent!

No impact to your government benefits

The RDSP is exempt from most provincial disability and income assistance benefits. It does not get clawed back and it does not reduce disability benefits payments.

Boost Returns with Flexible Investment Choice

From term deposits to mutual funds* to stocks and bonds*, we'll help you build an investment strategy tailored to your goals and risk profile.

Power your future.

Open an RDSP.

We'll help you get started; contact us at 306.842.6641.

For your appointment, remember to bring:

  • Your social insurance card
  • Your child's social insurance card, if your child is the beneficiary

THE NITTY-GRITTY: everything you need to know about RDSPs

The Registered Disability Savings Plan (RDSP) is a long-term savings tool for a person who is eligible for the disability tax credit (DTC). It has three main financial benefits:

  1. Government money added to personal contributions
  2. Tax-sheltered growth of personal and government money in the plan
  3. Tax eventually borne by the plan beneficiary, not the contributors

An RDSP may be opened by a person up to age 59 who qualifies for the disability tax credit (DTC) and is a Canadian resident with a valid Social Insurance Number (SIN). If the application is made by someone other than the DTC-qualified person, that applicant must also have a valid SIN.

There can only be one RDSP for a given beneficiary, and only one beneficiary for each RDSP.

Application is made to an RDSP issuer, which is a financial institution registered with the government to open plans, receive government bonds and grants, and invest funds as directed by the plan holder. 

The plan holder will generally be a parent or guardian if the beneficiary is a minor. An adult beneficiary must be his/her own holder, unless he/she is not contractually competent, in which case it may be a parent, spouse or common law partner, qualifying family member or designated legal representative.

The current lifetime contribution limit is $200,000, but there is no annual limit. However, there are annual limits to the amount of government assistance (see below), which could influence contribution timing.

Contributions are after-tax, meaning there is no tax deduction at that time. Government assistance is not taxable when credited to a plan. While in the plan, there is no tax on income earned on either personal or government contributions.

Anyone can contribute to an RDSP with the written permission of the plan holder. 
The CDSB makes an annual payment to a RDSP, even if no personal contributions were made to the plan. It can be up to $1,000 annually, depending on family income, with a lifetime limit of $20,000. It is available to age 49.

The CDSG matches personal contributions, depending on family income. It can be as much as a 300% match, up to a maximum of $3,500 in any one year, with a lifetime limit of $70,000. It is available to age 49.
Having a RDSP will not affect eligibility for federal programs such as the Canada Child Benefit, GST/HST credit, Old Age Security or Employment Insurance, nor limit access to provincial support programs.
When assistance is paid to the beneficiary – who does not have to be a Canadian resident at the time – each payment is a proportion of personal contributions, investment earnings, CDSB, CDSG and any provincial support. The beneficiary is taxed on the payment except for the portion that represents the return of personal contributions.
Visit the Government of Canada website for more information.

Your complete guide to RDSPs

Flex your financial fitness muscle with this all-in-one RDSP guide.

This guide is to help you complete each of the steps needed to:

  1. become eligible for an RDSP
  2. open an RDSP
  3. manage your money

This guide is for two groups of people:

  1. Individuals with disabilities who are opening an RDSP for themselves
  2. Families or friends who are opening an RDSP for their relative or friend with a disability

We're ultra-local & here to help!

Online brokerage services are offered through Qtrade Direct Investing. Mutual funds and other securities are offered through Aviso Wealth. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds and other securities are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc.
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