Applying for the Disability Tax Credit is Easy

Canadian Disability Tax Credit

Facts about the Canadian Disability Tax Credit

Currently, in Canada an estimated 1,000,000 individuals qualify for the Disability Tax Credit and ONLY 50% or 500,000 individuals have applied and are receiving this credit.

The Disability Tax Credit (DTC) could be worth a refund up to $1500 on tax dollars paid to an individual I~ you have a disabled child it could be worth a refund up to $2100 on tax dollars paid PLUS an extra Disability Tax Credit child benefit amount each month. There are also other tax credits available for disabled parents and other close relatives.

Of this 500,000 individuals who have applied for the Disability Tax Credit ONLY 24% have a Registered Disability Savings Plan (RDSP).

Canada Disability Savings Grant:

  • grant is based on matching contributions
  • maximum $3500 per year
  • matched at 300% for first $500 contributed, 200% on the next $1000 contributed
  • lifetime limit of $70,000
  •  eligible to the age of 49
  • retroactive for 10 years, to a maximum of $10,500

Canada Disability Savings Bond:

  • maximum eligibility of $1,000 per year
  • lifetime limit of $20,000
  •  income tested
  • no contribution required
  • retroactive for 10 years, to a maximum of $11,000

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