Disability: Accessing your benefits

Learn about the Disability Tax Credit and Registered Disability Savings Plan and how to access them.

Time frame: 60 min

LEARNING OBJECTIVES FOR PARTICIPANTS:

  • 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

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

QUESTIONS?

For questions, please email us.

WANT A SESSION IN YOUR AREA?

We will provide a CPA volunteer to lead the session with a prepared presentation, activities, handouts and worksheets. Note: If more than one session is needed, please fill out a second form and submit.

Request guidelines:

For more information, visit setting up a financial literacy session.

REQUEST A SESSION

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