Canada Disability Savings Bond
What you need
In order to be eligible to receive the CDSB the following conditions must be met:
- The account holder must:
- Have an RDSP
- Have filed a tax return if the beneficiary is 18 years of age or older
- Be eligible to receive the Canada Child Tax Benefit if beneficiary is under 18.
- Complete a Bond application and provide a signed copy to the Issuer
- The beneficiary must:
- Be a resident of Canada
- Be eligible for the Disability Tax Credit (DTC)
- Must not have more than $200,000 contributed to the plan
- Be under age 49 at the end of the preceding year the contribution was made
The amount of the CDSB is based upon the family net income as follows: (2018 figures reported below):
If the beneficiary's family net income is less than or equal to $30,450, then the beneficiary may receive $1,000 in Bond for that particular year.
If the person in respect of whom a special allowance is payable under the Children's Special Allowances Act for at least one month in that year, then they may receive $1,000.
If the beneficiary's family net income is greater than $30,450, but less than $46,605, then the beneficiary will receive a portion of the $1,000 based upon the following formula:
$1,000 - [$1,000 x (A-B) / (C-B)] where:
A= Family Income