As with each year, we receive a Grant Entitlement Statement for my son’s RDSP. This year is no different, but things may change soon.
Estimated reading time: 2 minutes
RDSP Grant Entitlement 2022
As you can see, this is an essential piece of information. I now know that in 2022, I can deposit $1000 in my son’s RDSP, and it will be matched with $1000 in grants.
This amount will increase once my son is over the age of 17 19, as the income they will use to determine the grant will be his income instead of our household income. When he turns 18 19, his grants should be much higher due to his estimated income (based on his income from age 17). (Age is 19, thanks to Ron Malis for correction).
When he turns 18, my son will also have to re-qualify for his Disability Tax Credit (this is due to his DTC expiring at that age). This is what we learned from the last time he had to re-qualify. If he should not get a DTC right away, the rules have changed.
Previous Posts on Grant Entitlements
The RDSP recipient will receive an update every year, which outlines how much in Bonds and Grants they will receive every year
No, you need to have a DTC, which then allows you to open an RDSP.
