Category:

Ontario

BMO Partners with PLAN to Help Individuals with Disabilities

- Three-year sponsorship and partnership will focus on educating individuals about the benefits of the Registered Disability Savings Plan (RDSP)
- BMO Bank of Montreal will be offering a $4 discount on monthly Everyday Banking Plans to BMO RDSP beneficiaries
 
TORONTO, ONTARIO–(Marketwired – April 23, 2014) -
Editors Note: There is a photo associated with this press release.
BMO …

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Jim Flaherty, Poverty Fighter—Al Etmanski—The Globe and Mail

Thanks to Jim Flaherty, disabled Canadians can fulfill their dreams

Among Jim Flaherty’s many proficiencies I would add poverty fighter. No one knew this better than Canadians with disabilities and their families. Next to social isolation, poverty is their biggest handicap. There are many reasons for this. A big one is that government resources are invested in rehabilitation programs that …

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A Thank You to Minister Flaherty

Planned Lifetime Advocacy Network (PLAN)… expresses our sincere and deep appreciation to Jim Flaherty for his enduring efforts as Finance Minister to launch and advance the world’s only Registered Disability Savings Plan.
Over 12 years ago, PLAN secured funding and began to conduct a multi-year, national campaign before proposing the Disability Savings Plan to the Canadian government. It was our

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USA Considers Developing Their Own Version of the RDSP


US Senate Leaders  Team Up to Back the Achieving a Better Life Experience (ABLE) Act.

Washington, DC, USA – March 24, 2014.
From www.ndss.org
The ABLE Act has amassed the support of 68 cosponsors from the US Senate and 345 cosponsors from the House of Representatives.
In a press release…, two senators thanked their colleagues for their support.
“The

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Senate Releases List of Improvement Recommendations on the RDSP

The Standing Senate Committee on Banking, Trade and Commerce held a series of community meetings from December 2013 through February 2014 to study  the ability of individuals to establish an RDSP with particular emphasis on legal representation, and the ability of individuals to enter into a contract. PLAN stood before the senate and made a number of suggestions on how to…

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Protecting RDSPs and RESPs from Bankruptcy Seizure—MLA Andrew Weaver

How many of us plan for bankruptcy? Very few. Unfortunately, it happens far too often. When it occurs, individuals inevitably struggle to rebuild their lives in the hope that one day they will become financially stable once more.
Registered Retirement Savings Plans (RRSPs) were first introduced federally in 1957. Legislation enabling Registered Retirement Income Funds… (RRIFs) was subsequently brought forward

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The difference an RDSP can make: Shannon’s story—The Globe and Mail

Shannon, age 15, loves playing baseball, skiing, and swimming with dolphins. She also has a severe disability called Engelmann’s Syndrome. For her parents, Kathy and Rob, their biggest worry is what will happen to Shannon when they are no longer here to care for her. Saving on their own has been difficult.
So when they sat down with a financial…

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RDSPs and FATCA: Warning to People With Disabilities With Any Connection to the U.S.

On March 18, 2010, the United States (US) announced a world-wide provision known as the Foreign Account Tax Compliance Act… (FATCA) which demands that every non-US financial institution on earth—such as all Canadian banks and credit unions—must enter into an agreement with the US government to report to its tax agency all accounts held by US residents and US citizens—including US

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How RDSPs work—The Globe and Mail

The Registered Disability Savings Plan (RDSP) was established to help parents and others save for the long-term financial security of a disabled person (one who qualifies for the Disability Tax Credit).
The beneficiary of an RDSP can continue to receive federal and provincial disability benefits.
8 things to know about RDSPs

    The beneficiary is the person with the disability who will …

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Government Form: Revocation of Request for Canada Disability Savings Grants and/or Canada Disability Savings Bonds

Why would anyone ever want to open an RDSP and not accept any free bonds or matching grants? 
One reason is because any grant or bond received means the RDSP cannot see any withdrawals made for the following ten years without a penalty on the grant and bond.
Perhaps somebody has opened an RDSP and wants to use the money…

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