The Committee recommends that the provinces and territories ensure that disabled adults can access the RDSP program, and that the federal government continue to work with the provinces and territories to improve access to the program. [...] The amount that the beneficiary has to repay if the waiting period is not met is the lesser of the total amount of federal contributions to the RDSP in the past 10 years, which is called the “assistance holdback amount,” or $3 for every $1 withdrawn from the RDSP. [...] If the federal contributions to a RDSP exceed the contributions made by the beneficiary or other people, the maximum annual limit for both types of payments is the greater of the amount determined by the formula in the Income Tax Act and 10% of the fair market value of the RDSP’s assets at the beginning of the year. [...] For example, the amounts that need to be repaid to the federal government are now proportional to the amount withdrawn from the RDSP, a registered education savings plan can be rolled over into a RDSP if the plans have the same beneficiary, and a RDSP can remain open for up to five years when a beneficiary becomes ineligible for the Disability Tax Credit. [...] These questions were in relation to the entity that would evaluate the completed form, the nature and scope of the evaluation, and – in the event that a lawyer was required – the relative extents to which the beneficiary and the appointed representative would provide instructions to the lawyer.
- Pages
- 26
- Published in
- Ottawa, Ontario
