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Registered Disability Savings Plan for Canadians
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kvc33 - April 3

If you are receiving the Disability Tax Credit on your income tax form, you are eligible to start a Registered Disability Savings Plan. This plan is intended to save money for your 'retirement' years. You can contribute to this plan until you reach the age of 59 and up until you are age 49 you can apply for government bonds and grants to provide money to put into your RDSP. You can get a maximum of $4500 a year, depending on how much you contribute, $1500 is the amount you need to get the maximum. You can start an RDSP with as little as $50. Most eligible Canadians have not taken advantage of this new opportunity that was started in 2008. I started one two years ago and now have $20,000 in my plan. Google RDSP to learn all about it. You can apply for the Disability Tax Credit if you aren't already getting it in order to be eligible for an RDSP.

 

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