Breaking News!!!

Registered Disability Savings Plan Exempt in Ontario.

A major stumbling block for people with disabilities in Ontario has been removed.  On November 30, 2008, the McGuinty Government announced that changes were being made to the social assistance programs that will make both Registered Disability Savings Plan (RDSP) assets and RDSP withdrawals fully exempt from affecting ODSP benefits.  Ontario has followed the lead of other provinces in ensuring that participation in the RDSP will not negatively impact on provincial social assistance programs.

The RDSP’s purpose is to assist families in accumulating money, tax deferred, to support the future needs of children and adults with disabilities.  The plan was well received by many but its major stumbling block was that an RDSP would eliminate a person’s entitlement to the Ontario Disability Support Program.  This fact would make the RDSP entirely meaningless in our province.  Sunday’s announcement means that people in Ontario who qualify for the Disability Tax Credit will now be able to be the beneficiary of the RDSP without losing their entitlement to ODSP benefits.

Financial Institutions in the Province are expected to present their RDSP products sometime in December 2008.  It hasn’t happened yet but once it does, we will be in touch with you once again.

This message has been brought to you by Graeme Treeby and The Special Needs Planning Group, your RDSP Centre.   

Click here to view a more detailed Fact Sheet