Heard a little about this on the news the other day. To date, my research only found the following information but, my understanding was that it was applicable across Canada. I'll keep doing a little research and post what I find.
Ontario announces new income exemption rules for Registered Disability Savings Plans
December 11, 2008
Ontario recently established income exemption rules for social assistance recipients who open a Registered Disability Savings Plan (RDSP). Announced by the Canadian government in the 2007 federal budget, an RDSP is a savings vehicle that allows families and friends of individuals with physical and mental disabilities to invest money into a savings plan which the person can draw upon for income later in life. It was to be available by the end of this year.
These new exemptions apply to asset, contribution and withdrawal rules, ensuring that social assistance recipients will be able to deposit money in an RDSP and withdraw money from an RDSP without having their social assistance income reduced or eliminated.
For more information, see the news release "Ontario Supports Registered Disability Savings Plans," November 30, 2008, at Ministry of Community and Social Services / Ministry des Services sociaux et communautaires.
For more information about the RDSP, see "New Registered Disability Savings Plan Follows Panel's Recommendations," Mental Health Notes, April 5, 2007, at Canadian Mental Health Association, Ontario
Also see: http://specialneedsproject.ca/index2.php?option=com_content&do_pdf=1&id=98
Disability Savings Grant and Bond
Ontario announces new income exemption rules for Registered Disability Savings Plans
December 11, 2008
Ontario recently established income exemption rules for social assistance recipients who open a Registered Disability Savings Plan (RDSP). Announced by the Canadian government in the 2007 federal budget, an RDSP is a savings vehicle that allows families and friends of individuals with physical and mental disabilities to invest money into a savings plan which the person can draw upon for income later in life. It was to be available by the end of this year.
These new exemptions apply to asset, contribution and withdrawal rules, ensuring that social assistance recipients will be able to deposit money in an RDSP and withdraw money from an RDSP without having their social assistance income reduced or eliminated.
For more information, see the news release "Ontario Supports Registered Disability Savings Plans," November 30, 2008, at Ministry of Community and Social Services / Ministry des Services sociaux et communautaires.
For more information about the RDSP, see "New Registered Disability Savings Plan Follows Panel's Recommendations," Mental Health Notes, April 5, 2007, at Canadian Mental Health Association, Ontario
Also see: http://specialneedsproject.ca/index2.php?option=com_content&do_pdf=1&id=98
Disability Savings Grant and Bond
