The Canada Disability Savings Grant is another way for the federal government to contribute money to your RDSP. When you (or your family or friends) deposit money into the RDSP, the federal government will also put in some money.

The amount of Disability Savings Grant you receive depends on your income tax returns for the previous two years.

  • For a minor, the grant is calculated on their family’s net-adjusted income.
  • For an adult, the grant is based upon the beneficiary’s personal net-adjusted income (even if they live with their parents). If beneficiary has a spouse, it is their family net-adjusted income.

Size of Canada Disability Savings Grant

If the beneficiary’s income is $111,733 or less:

  • For the first $500 contributed into the RDSP, the beneficiary will receive $3 for every $1 contributed. For the next $1,000, the beneficiary will receive $2 for every $1 contributed.
  • The maximum grant for any one year is $3,500. The lifetime maximum grant is $70,000.

If the beneficiary’s income is above $111,733:

  • For the first $1,000 contributed into the plan, the beneficiary will receive $1 for every $1 contributed.
  • The maximum grant for any one year is $1,000. The lifetime maximum is $70,000.
  • A beneficiary may receive the full $3,500 grant one year, and $1,000 the next year (it is completely dependent on their income for two years prior.)

 

Note: You cannot receive the grant after the calendar year in which you turn 49.