Learn about the Disability Tax Credit and Registered Disability Savings Plan and how to access them.
Learning Outcomes
- determine the eligibility criteria and requirements
- compare which deductions are of greater benefit to taxpayers
- discuss the procedures to follow when changes in medical conditions occur
- identify tax implications of making withdrawals and contributions to an RDSP
Session Outline
- the CRA definition of a disability
- determining eligibility
- Disability Tax Credit
- T2201 certificate and its purpose
- how DTC is applied to a tax return
- claiming DTC and eligible medical expenses
- Registered Disability Savings Plan
- contributions and benefits
- qualified financial professionals
- planning for critical events
- steps to setting up and maintaining
- tools and resources
- Q&A
Learning Materials
- Activity - Determining eligibility – Scenarios
- Activity - Determining eligibility – Medical Criteria Summary
- Sample T2201
- Sample Schedule 1 – Federal Tax
- Self-Assessment Questionnaire
Other Sessions
Better understand Canada’s tax system and minimize the amount of tax paid.
How to effectively plan for the kind of retirement you desire.
Learn how to save more and spend less.
Understand fraud and how to protect yourself from being a victim.
Improve financial management and help adults teach their kids about money.
How to become better money managers.
Learn about the Disability Tax Credit and Registered Disability Savings Plan and how to access them.
Helps with the goals and challenges of raising money-smart
Why every adult should have an estate plan. Learn how to create a plan to distribute assets, during life or upon death.
Learn how to move ahead financially after the loss of a job