Canada Disability Savings Grants and Bonds

After opening an RDSP, you must meet the following requirements to apply for a grant:

• be 49 years of age or under (if you are 49, you must apply before the end of the calendar year in which you turned 49);
• be a Canadian resident;
• have a Social Insurance Number (SIN);
• be eligible for the Disability Tax Credit (Disability Amount);
• make contributions to your RDSP; and
• for beneficiaries over 18 years of age:
  • file your personal income tax returns for the past two years and all future taxation years to qualify for the 200% and 300% matching grant;
• for beneficiaries under 18 years of age:
  • parents or guardians must file their income tax returns for the past two years and all future taxation years, and apply for the Canada Child Tax Benefit to qualify for the 200% and 300% matching grant.

You must apply for the Grant through the financial organization where you have your RDSP.

For your convenience, you can download, complete, and print the application form prior to meeting with your financial organization.

The income amounts shown are for 2012. The income amounts are updated each year based on the rate of inflation.

If the Beneficiary's Family Income is less than or equal to $85,414:

• For the first $500 contributed each year to the RDSP, the Government will deposit $3 for every $1 contributed, up to $1,500 a year.
• For the next $1,000 contributed each year to the RDSP, the Government will deposit $2 for every $1 contributed, up to an additional $2,000 a year.

If the Beneficiary's Family Income is greater than $85,414

• For the first $1,000 contributed each year to the RDSP, the Government will deposit $1 for every $1 contributed, up to $1,000 a year.

Mary has a Beneficiary's Family Income of $37,000. She makes two contributions to her RDSP in 2010:

• She contributes $500 to her RDSP in March, 2010.
• She contributes an additional $400 in August, 2010, for a total amount of $900 in contributions.

On the first $500 contribution, Mary receives a 300% matching rate:

• $500 x 300% = $1,500.

On the second $400 contribution, Mary receives a 200% matching rate:

• $400 x 200% = $800.

The total amount of grants she receives in 2010 is:

• $1,500 + $800 = $2,300.

After opening an RDSP, you must meet the following requirements to apply for a bond:

• be 49 years of age or under (if you are 49, you must apply before the end of the calendar year in which you turned 49);
• be a Canadian resident;
• have a Social Insurance Number (SIN);
• be eligible for the Disability Tax Credit (Disability Amount)
• have a family income of less than $42,707 (this income amount is updated each year based on the rate of inflation);
• for beneficiaries over 18 years of age:
  • file your personal income taxes for the past two years and all future taxation years;
• for beneficiaries under 18 years of age:
  • parents or guardians must file their taxes and apply for the Canada Child Tax Benefit for the past two years and all future taxation years.

You must apply for the Bond through the financial organization where you have your RDSP.

For your convenience, you can download, complete, and print the application form prior to meeting with your financial organization.

The income amounts shown are for 2012. The income amounts are updated each year based on the rate of inflation.

If the Beneficiary's Family Income is less than or equal to $24,863:

• The Government deposits $1,000 each year to the RDSP.

If the Beneficiary's Family Income is between $24,863 and $42,707:

• The Government deposits a portion of the $1,000 to an RDSP each year. As your income increases, the bond amount paid into your RDSP decreases.

Marc opened an RDSP for himself and has a family income of $19,000 (See Beneficiary's Family Income). As his income was below $24,863, the Government deposits $1,000 to his RDSP.