Certain provinces have been given two more years to create a streamlined process for disabled adults to open an RDSP
Investors can choose from a wide range of investment products offered by NBDB
Two initiatives extend an RDSP deadline and offer credits for home accessibility improvements
Action group formed to increase participation
Partnership will focus on spreading the word about the benefits of RDSPs
Only about 15% of eligible Canadians have established a Registered Disability Savings Plan
One solution could be to allow people with disabilities to make a personal appointment of a “supportive person” for decision-making related to RDSPs
RDSPs can allow disabled individuals to have some authority over their finances
Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management, discusses the implications of Ottawa's budget amendments to RDSPs and RESPs. RDSPs have been streamlined and several aspects are more favourable to the beneficiary, including guardianship and repayment terms. He spoke form the budget lock-up in Ottawa.
More flexible tax rules and fewer administrative barriers could boost participation