The Nitty-Gritty of the Canada Disability Savings Grant

If you suffer from a disability – either mental or physical – you would know that you are entitled to numerous disability benefits. These benefits are given to you by the Canadian government with the hope that by availing these benefits you will be able to lead a more normal life. Furthermore, it is expected that by making use of these benefits, you will be able to substantially reduce the economic and emotional burdens associated with a disability.

One such disability benefit comes in the form of the Canada Disability Savings Grant. However, before we digress into the nitty-gritty of this grant, it is imperative to first go over what the RDSP is. The RDSP (or the Registered Disability Savings Plan) helps Canadians with disabilities (and their loved ones) save money for the future. As per the Canada Revenue Agency (the branch of the government that disperses disability benefits), “if you are a Canadian resident under age 60 and are eligible for the Disability Tax Credit, you are eligible for an RDSP. Earnings accumulate tax-free, until you take money out of your RDSP. Parents or guardians may open an RDSP for a minor. With written permission from the holder, anyone can contribute to the RDSP.”

Returning to the Canada Disability Savings Grant, what is this grant all about? Well in simple terms, through the Canada Disability Savings Grant, the Canadian government deposits money into your RDSP in the hope of increasing your saving. So much so, that the Canadian government provides matching grants of up to 300 percent (depending on the amount contributed and the beneficiary’s family income)!

Hence, by making use of the RDSP and the Canada Disability Savings Grant, you will be able to plan for your future as well as the future of your loved ones. So what must you do to register yourself for both of these amazing disability benefits? Well, firstly you will need to completely understand the ins and outs of your condition, following which you will need to do a thorough review of the various legalities involved in making a claim.

This though may be too cumbersome or time-consuming, and thus you may find yourself giving up midway. DON’T! instead come to us at the National Benefit Authority (NBA) and let us help you. We are well versed in all matters pertaining to disability benefits and therefore we will be able to offer you key insights which will allow you to hurdle past any and all bottlenecks. If you’re unsure about how good we are at what we do, please note that we have a success rate that stands at 99 percent. Thus, put your trust in us and let us help you. You can be rest assured that by coming to us you will be never let down.