Registered Disability Savings Plan (RDSP)

A savings vehicle to help parents and other family members provide long term financial security for a person eligible for disability tax credit. Contributions to RDSPs are not tax-deductible but qualify for government grants. Funds on deposit grow tax-free and the contributed funds are not taxable on withdrawal, though the bonus portion and investment growth is taxable to the recipient on withdrawal. See also “Henson Trust”

×
×
April 17th, 2024