With the serious possibility of an election in the Fall many people are wondering whether this will impact the launch of the RDSP in December. There are a few reasons why the upcoming election should not concern people who are planning to set up an RDSP in December.
1) The RDSP received Royal Assent in December of last year and is solidified in the Income Tax Act and Canada Disability Savings Act. Unlike a Bill that is still in First or Second Reading in front of the House of Commons, the RDSP has already passed through the political system and has been entrenched in Canadian legislation.
2) The Federal Government, including the Department of Human Resources and Social Development, Finance Canada, and the Canadian Revenue Agency, are all in final preparations for the launch in December and are continuing to work with financial institutions to make sure it is available to Canadians before the end of this year.
3) All three parties have been supportive of the RDSP and have indicated that it is a powerful and important plan for Canadians facing the challenges of living with a disability.