Canada Disability Savings Grant
To Apply for the CDSG for your Scotia RDSP
You may apply for the CDSG by contacting the Wealth Management Contact Centre at 1-877-929-4499. We will apply to the CDSG program on your behalf after each contribution made to your Scotia RDSP for the beneficiary. Any CDSG received by Scotiabank will be paid into the "cash portion" of the Scotia RDSP Investment Account.
What you need
In order to be eligible to receive the CDSG, 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 the beneficiary is under 18
- Complete a Grant application and provide a signed copy to the Issuer
- Deposit a contribution into the RDSP
- 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 CDSG is based upon the following: (2018 figures reported below)
- If the total net annual family income is equal to or less than $93,208, the Government of Canada will contribute $3 for every $1 of the first $500 contributed.
- The CDSG will be reduced to $2 for each $1 of the next $1,000 contributed.
Therefore, for example, if the total net annual family income is equal or less than $93,208 and the private annual contribution is $1,500, the maximum grant would equal $3,500.
- In instances where the family net income is greater than $93,208, the CDSG will be reduced to $1 for every $1 of private contributions, up to a maximum of $1,000 per year. Additional information about the CDSG is available from the Government of Canada.