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Poster-RDSP Chinese Telelearning -July21-2010

PLAN  is hosting a Chinese RDSP telephone seminar for Chinese families across the country July 21, 2010. Please see the attached poster for more information.

RDSP Teleseminar (Mandarin)

Date and Time: Wednesday, July 21, 2010 – 5 PM to 6:30 PM (Vancouver time)

Register

– by phone: 604-439-9566

– by email: inquiries@plan.ca

– by website: www.forthefuture.ca

殘障人士註册儲蓄計劃(RDSP)是加拿大政府新訂的一項儲蓄計劃,能幫助我們有殘障的親人建立長遠的經濟保障。殘障人士福利計劃倡導會 (PLAN) 將為加拿大華語家庭安排兩個中文RDSP 電話遙距講座,日期在2010年6月16日和7月21日。如果與您有聯系的華語家庭中有需要知道關於RDSP 資訊者,希望你能幫助將所附上海報交給他們。謹此致謝!

RDSP電話中文講座日期和時間: (溫哥華時間)
2010年7月21日(星期三)下午5時至下午6時 30分(國語)
報名電話:604-439-9566
電郵報名:inquiries@plan.ca

PLAN’s new  Step by Step Guide (to becoming eligible, opening and managing your Registered Disability Savings Plan) is available now for free download. Just click on the following link:  Step-by-Step Guide

With support from the Investor Education Fund, the guide has been written and designed in plain language for people with disabilities and their families.  It will walk you through all the steps necessary for becoming eligible, opening and managing an RDSP.

Feel free to use it and pass it on to others who might utilize it.  Our goal is to make information about the RDSP more accessible so that more people can use the RDSP to improve their financial security.

And….let us know what you think!  Post your comments and suggestions…there will always be another iteration.

The Government of the Northwest Territories has joined the group of provinces and territories who are progressively backing the full exemption of RDSPs from affecting their provincial disability income assistance.   The Honourable Jackson Lafferty announced that the NWT Government will fully support the implementation of this program.

“Withdrawals from RDSPs will not affect federal income-tested benefits and credits, such as the Canada Child Tax Benefit, the Goods and Services Tax Credit and Old Age Security benefits.

Mr. Speaker, I am pleased to confirm today that the Department of Education, Culture and Employment will fully exempt both the RDSP asset and RDSP withdrawals from consideration in the assessment process for all ECE Income Security Programs.

The Government of the Northwest Territories supports the Federal Government’s plan for persons with disabilities. This program supports our vision to give NWT residents the opportunity to become self-reliant as individual capacity allows, to participate fully in community life, and to share in opportunities available to them in their communities.”

To view the announcement in its entirety visit:  http://www.exec.gov.nt.ca/currentnews/speechDetails.asp?varStatement_ID=773

Yukon is the first Territory in Canada to exempt the RDSP . They recently published a new version of the Yukon Social Assistance Regulations. In these regulations they have exempted the RDSP as an asset and indicated that it will not be included in the calculation of liquid assets for someone receiving social assistance.

Notwithstanding subsection (1), the following shall not be included in the calculation of liquid assets: (c) accumulated savings in a person’s Registered Disability Savings Plan;”

To read the regulations visit: http://www.hss.gov.yk.ca/downloads/252_Social%20Assistance%20Regulation%20Final%2008.pdf

The Department of Health and Social Services has also indicated that they will not count the income from the RDSP when they determine benefit levels for someone on social assistance.

“Federal Registered Disability Savings Plan and the Working Income Tax Benefit For persons on social assistance who receive the above Savings Plan or Tax Benefit, it will not be counted as income for the purpose of determining benefit levels.”

To visit website go to: http://www.hss.gov.yk.ca/programs/social_services/assistance/changes_to_social_assistance/

This is a very encouraging development as Yukon has now joined British Columbia and Newfoundland in exempting the RDSP. These provinces and territory have made it clear that they understand that people with disabilities face barriers that others don’t, and that they are willing to assist people and their families achieve financial security. As the launch of the RDSP in December draws near we are optimistic that the other provinces and territories will decide to exempt the RDSP as well.

Congratulations to the Government of Yukon on taking this monumental step towards improving the lives of people with disabilities in Canada!

Currently BC, Alberta, Newfoundland, Saskatchewan, Manitoba, Ontario, Nova Scotia, NWT and Yukon have exempted the RDSP as an asset and/or income. Quebec and New Brunswick have exempted the RDSP as an asset but are capping the amount of income that you are allowed to withdraw from the plan (QB $305 exempt monhtly and NB $800 exempt monthly). Prince Edward Island has announced that they will exempt the RDSP as an asset and income up until the low income threshold (see http://www.rdsp.com for more details), and Nunavut has currently not indicated how they will treat the RDSP.

We will be updating this blog consistently and letting you know as soon as the provinces announce their intentions.

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