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Level 1

How do i get an rrsp and rdsp and how does it work? I believe my deduction is about 126 or 186.00 total according to my taxes for the deduction limit?

Ive been seriously thinking about investment for the first time ever. Ive heard of rdsp for people on disability and, of course, rrsp and gic's.. my deduction limit is under 200.00 i believe an d so, i havent a clue how to get the rrsp, what i can put into it or how to get an rdsp and what to put into it. I want to put away as much as possible for retirement even though i am on odsp. Please help?

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Level 1

How do i get an rrsp and rdsp and how does it work? I believe my deduction is about 126 or 186.00 total according to my taxes for the deduction limit?

If you personally qualify for the Disability Tax Credit then you also qualify to make contributions to a RDSP. The contributions to a RDSP are not tax deductible but the government will contribute as much as $3 for every dollar you deposit into the account.

Speak with a financial institution investment advisor to determine which savings vehicle is right for you. Additional information provided below.

2 Replies
Level 1

How do i get an rrsp and rdsp and how does it work? I believe my deduction is about 126 or 186.00 total according to my taxes for the deduction limit?

If you personally qualify for the Disability Tax Credit then you also qualify to make contributions to a RDSP. The contributions to a RDSP are not tax deductible but the government will contribute as much as $3 for every dollar you deposit into the account.

Speak with a financial institution investment advisor to determine which savings vehicle is right for you. Additional information provided below.

Level 1

How do i get an rrsp and rdsp and how does it work? I believe my deduction is about 126 or 186.00 total according to my taxes for the deduction limit?