Using the RDSP
An individual approved for the disability tax credit is eligible to be the beneficiary of a Registered Disability Savings Plan (RDSP). Opening an RDSP. A parent or legal representative of a child with a disability can open an RDSP and be the plan holder when the beneficiary is under the age of majority. A beneficiary […]
Supporting a child with special needs
Raising a child who has a disability requires a great deal of extra time to provide and arrange care. In addition, wealth planning issues are involved, but you can get help with financial matters. You want to take advantage of any available tax relief now and ensure your child is properly cared for after your […]
New parents? You can take baby steps
Having a baby is a beautiful and completely new experience, as you care for your newborn around the clock. You may never have felt so much responsibility. Caring for your baby isn’t the only part of your life that changes—your financial life also evolves. Financial changes You might pay extra attention to savings, perhaps using […]
Helping your child buy a home
With steep home prices, strict mortgage regulations and a high cost of living, today’s first-time home buyers face a major financial challenge. It’s no wonder so many turn to their parents for assistance. According to the Canada Mortgage and Housing Corporation, three in 10 Canadian home buyers receive a gift to help purchase their home.¹ […]
Are you giving your children an allowance?
When it comes to giving an allowance—or not giving an allowance—there are no hard-and-fast rules to follow. Different parents have different approaches, and the only right way is what’s right for you. Here are a variety of viewpoints to consider and choices to make to help you determine which practices suit your personal preferences. To […]