We prepare and help our clients file for the Disability Tax Credit (DTC) certificate, which is the cornerstone to acquiring many other benefits such as cash refunds, access to tax-free savings (Registered Disability Savings Plan), income tax reductions and much more.
Many people are unaware of the tax benefits that the government has in place to improve the lives of those dealing with mental or physical challenges on a daily basis. Fortunately, the government allows eligible persons to file tax adjustments for missed years, up to a maximum of ten years.
With the RDSP, you can build tax-sheltered savings for the future and was introduced by the government for the purpose of long-term investment growth. The RDSP attracts matching grants and bonds from the government and can be set up by the person with the disability or their parent or guardian.
If your estate plan will include assisting or protecting an individual who’s mental and/or physical disabilities leave him or her dependent on others, careful planning is necessary in order to add to their security and quality of life.
If you need affordable and flexible health, dental, travel or critical illness insurance, Manulife and Disability Dreams Group has a solution for you. If you are looking for the security of extended health care coverage, just click below to get started.
It is very important to establish a solid financial structure, but this is amplified when it is for someone challenged by an impairment. In these cases there are so many factors that must be considered to ensure this person is provided with enough to live a fulfilling life.
People who are living with learning disabilities have the extra burden of a non-visible impairment. More often than not, people with learning disabilities and their families have to make those around them aware in order to get the supports they need to succeed. This sometimes leads to being labeled as an underachiever or worst. However, by definition learning disabilities occur in people of average to above average intelligence. What this means is that a learning disability is not a barrier to success, just a different path is needed to arrive at the same outcome. There are many famous, successful people who had or have learning disabilities including Albert Einstein, Alexander Graham Bell, Thomas Edison, Richard Branson, John Lennon, Robin Williams, Tom Cruise and Mozart to name but a few.
Learning disabilities impact certain skills, most of which can be improved with the proper supports in order to achieve success. Because learning disabilities are usually exhibited in the school system, those with learning disabilities can be identified early in life and the appropriate support can be implemented to improve confidence and ability. When someone with a learning disability does not receive the appropriate support and guidance, individuals with learning disabilities have higher than average rates of dropping out of school, unemployment and poverty. Many parents rely on the school system for the educational assessments that will diagnose and identify a learning disability. Unfortunately the school systems are overburdened and the waiting list can literally take years. One alternative is to contact a Learning Disability Association to seek support and assistance. There is an extensive network of chapters across Canada all of which are registered charities dedicated to improving the lives of children, youth and adults with learning disabilities. Another alternative is to have your child privately assessed by a psychologist which can be quite costly. One way to ease the financial burden of these and other costs associated with having a learning disability is to apply for the Disability Tax Credit. If the person with the learning disability is granted the disability credit, the result can be significant additional tax refunds and a supplement to the CCTB (baby bonus). For more information on the benefits of the disability tax credit and how we can help please refer to our web site or contact us directly at 877-895-5186 .