RDSP for VETS
+2
liverlover
oldsailor
6 posters
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RDSP for VETS
I have a great idea that would work with the GOC and us Vets.
The Conservative Government has approved a RDSP for disable Canadians just a few years ago.
It is a fantastic way of putting money away and the GOC gives you a grant and bond.
I.E. you put $1500.00 towards your RDSP and the GOC contributes around $3000.00.
This is only available until you are in your 49th year (age that is)
What if we ask our lawyers if they would pass on to the GOC, if they would offer the same for our entitlement of part of this clawback.
The max that the GOC offered in grants and bonds to disable Canadians was $1500.00.
Now if we were able to go back years to the date we were clawed back and allowed to contribute $1500.00 per year to our RDSP,
we would be in great shoes.
I.E. $1500.00 x 10 years = $15,000.00 plus grants and bonds $30,000 totalling $45,000.00 plus interest for 10yes would give us around $100,000.00.
Now the hook here is that we are not allowed to touch the money for 10year or we have to give the GOC back the money that
they gave in Grants and Bonds, however the money is tax free after 10 years..
This way the GOC would be off the hook or lets say, they would be helping disable Canadian (Vets).
Now 10 years ago would have been the first contribution and we would be allowed to collect that part tax free now.
To me that would be a good solution.
Any coments out there, especially, cuase we did not have the income so we were not allowed to contribute to this RDSP.
The Conservative Government has approved a RDSP for disable Canadians just a few years ago.
It is a fantastic way of putting money away and the GOC gives you a grant and bond.
I.E. you put $1500.00 towards your RDSP and the GOC contributes around $3000.00.
This is only available until you are in your 49th year (age that is)
What if we ask our lawyers if they would pass on to the GOC, if they would offer the same for our entitlement of part of this clawback.
The max that the GOC offered in grants and bonds to disable Canadians was $1500.00.
Now if we were able to go back years to the date we were clawed back and allowed to contribute $1500.00 per year to our RDSP,
we would be in great shoes.
I.E. $1500.00 x 10 years = $15,000.00 plus grants and bonds $30,000 totalling $45,000.00 plus interest for 10yes would give us around $100,000.00.
Now the hook here is that we are not allowed to touch the money for 10year or we have to give the GOC back the money that
they gave in Grants and Bonds, however the money is tax free after 10 years..
This way the GOC would be off the hook or lets say, they would be helping disable Canadian (Vets).
Now 10 years ago would have been the first contribution and we would be allowed to collect that part tax free now.
To me that would be a good solution.
Any coments out there, especially, cuase we did not have the income so we were not allowed to contribute to this RDSP.
oldsailor- CSAT Member
- Number of posts : 70
Location : Vancouver Island
Registration date : 2012-10-10
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