The Registered Disability Savings Plan (RDSP), a savings plan designed for families supporting children with disabilities, is gaining exposure with a new set of rules in 2011.
Both “Time to make use of RDSP” in The Financial Post, and “New rules add incentive to open a disability savings plan” in The Globe and Mail cover these changes.
From The Globe:
“Two changes being implemented this year make it even more beneficial to open an RDSP. New tax rules allow you to carry forward unused government grants and bonds starting from 2008. So for those who qualify for the bond, simply opening an RDSP in 2011 will get them up to $4,000 in government bonds.
“And beginning in July, the proceeds from a deceased individual’s registered retirement savings plan, registered retirement income fund or registered pension plan can be rolled over into the RDSP of a financially dependent child or grandchild with a disability, without triggering taxes and probate fees. It’s a simple, tax-efficient way to leave an inheritance.”
Learn more about the RDSP here.
The RDSP was implemented in 2008, with support from McConnell grantee PLAN.