Description
A government contribution of up to $1,000 per year (no personal contributions needed) for low-income individuals with an RDSP—up to $20,000 lifetime.
Benefit Amount
- Up to $1,000/year
- Lifetime maximum: $20,000
- Income-Based Payment (2024 thresholds):
- If family income ≤ $36,502: full $1,000
- If $36,502 < income ≤ $55,867: partial bond
- If income > $55,867: no bond
Eligibility Criteria
- Must be eligible for the Registered Disability Savings Plan (RDSP)
- Must be approved for the Disability Tax Credit (DTC)
- Must be a Canadian resident with a valid Social Insurance Number (SIN)
- Must be under age 49 (grants and bonds are paid until December 31 of the year the beneficiary turns 49)
- For CDSB: No personal contributions required
Application Process
- Apply for the Disability Tax Credit (DTC) through the CRA.
- Open an RDSP at a participating financial institution.
- File income tax returns for the past two years and continue annually.
- For CDSG: Make contributions to receive matching grants.
- For CDSB: Bond is deposited automatically if eligible.