And as if that weren't enough, Quebec has now partially exempted the RDSP from affecting disability benefits.
That means, in the case of Quebec, although an RDSP can grow to an unlimited amount without affecting Disability Benefits, payments from the plan will be only partially exempted from affecting provincial disability benefits. Individuals will be allowed to withdraw $300 in income a month for an individual adult, and $340 in income a month for a couple, without disability benefits being affected. Anything above that threshold will be considered income and may disqualify or cause funds to be clawed-back from current benefits.
Okay, perhaps not 'picture perfect' in the case of Quebec. But still...
Just in case anyone is actually keeping track, that makes seven provinces which have in some form or another exempted the RDSP from affecting disability benefits (with Manitoba, Alberta, Ontario, Saskatchewan, Newfoundland, the Yukon and British Columbia completely exempting them) and a partial exemption in Quebec.
Let's see, when I went to school Canada had 10 provinces and 2 territories. So I believe that would mean we currently have 10 provinces and 3 territories. With
Three provinces and two territories, you say... let me see, would that leave Nova Scotia, New Bruswick,Prince Edward Island, Nunavet and the Northwest Territories as the remaining holdouts? Yes, I believe it would.
Did I mention Nova Scotia?
Still holding out ... afraid to come to the party, it would seem.
It's enough to make a girl's heart sad, it is. Will we never see the light?