Tip for Saving for your Future
If you are interested in saving money for your future make sure to set up a Registered Disability Savings Plan. This tax-deferred savings plan is becoming available this December and will provide generous Government Grants and Bonds for anyone wishing to take advantage of the offer. This plan can provide up to $3 for every $1 contributed to the plan, and can provide $1,000 yearly for simply setting up a plan.
If you are going to set up an Registered Disability Savings Plan make sure to do two things:
1) Make sure you qualify for the Disability Tax Credit (form T2201) from the Canadian Revenue Agency (eligibility criteria to receive the plan); and
2) File a 2007 income tax return (even if you have no income).
For more information you can visit www.rdsp.com