Updated 2024. The Registered Disability Savings Plan (RDSP) is a long-term savings plan specifically designed to help individuals with disabilities and their families save for the future. Introduced by the Canadian government in 2008, the RDSP aims to provide financial security and support for individuals with disabilities over their lifetimes.
Here are some key features and benefits of the RDSP: (more…)
Updated for 2024. One common misconception about the Disability Tax Credit (DTC) is that it holds no value for recipients of the Ontario Disability Support Program (ODSP) or other provincial benefits such as Assured Income for the Severely Handicapped (AISH).
While the non-refundable tax credit portion of the Disability Tax Credit is often the focus, otherwise known as a disability tax credit refund, ODSP recipients typically don’t have any taxes payable, so they can’t directly benefit from this part of the credit. However, this doesn’t mean that individuals on ODSP cannot leverage the other benefits offered by the Disability Tax Credit.