Description
A government program that matches contributions to a Registered Disability Savings Plan (RDSP) to help people with disabilities save for the future—up to $3,500 per year and $70,000 lifetime.
Benefit Amount
Government matches personal contributions to an RDSP:
- 300% on the first $500 (i.e., $1,500)
- 200% on the next $1,000 (i.e., $2,000)
- Maximum per year: $3,500
- Lifetime maximum: $70,000
Income-Based Matching (2024 thresholds):
- If family income ≤ $111,733:
- First $500 → $3 for every $1 = $1,500
- Next $1,000 → $2 for every $1 = $2,000
- If family income > $111,733:
- First $1,000 → $1 for every $1 = $1,000
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.