It still looks like things are moving along and that the RDSP will become available in December of this year.  The Federal Government is on track to be prepared for the launch and are currently dealing with the Financial Institutions that will be offering the RDSP to their clients.  We have heard that somewhere between 12-14 Financial Institutions (from across Canada) are in the midst of drafting agreements for the Federal Government, and once approved, will begin preparing for the launch in December.

We have been getting a lot of questions lately asking which Financial Institutions will be offering the RDSP.  At the moment this information is not public, but should become available in the next few months.  As soon as we know which Financial Institutions will be offering the RDSP we will be posting a list of organizations and detailing their particular plans.

If you and your organization are interested in outreach for the RDSP you may want to keep an eye on HRSDC as they will be sending out a Request for Proposals for different organizations to help inform Canadians about the RDSP.  Financial literacy around the RDSP is going to be an important piece of work as there will be many Canadians with a disability who are eligible for the Disability Tax Credit but have never applied for it in the past.

If you know anyone who may be eligible for the Disability Tax Credit make sure to encourage them to apply to the Canadian Revenue Agency.  As well, for anyone looking to set up an RDSP in December, make sure you file a 2007 tax return as your prior years tax return will determine the amount of Grant and Bond you receive.  If you want more information on applying for the Disability Tax Credit you can go to the Canadian Revenue Agency’s website at http://www.cra-arc.gc.ca/E/pbg/tf/t2201/.

If you are interested in seeing what the RDSP could potentially provide for you or your family member with a disability make sure to check out our new RDSP Calculator, Version 1.0.

Advertisements