Example

Let us take Roger for example:

• He is a person with a disability.
• His income has been less than $15,000 each year since 2007.
• He has been entitled to the disability tax credit (DTC) each year since 2007.
• He is not, and has never been, a holder or beneficiary of an RDSP.
• He has reached the age of majority and is contractually competent to enter into a plan.

In August 2016, Roger opens an RDSP. Although opened in 2016, Roger’s plan has accumulated grant and bond entitlements over the past 9 years, going back to 2008 when RDSPs became available.

The following is a breakdown of Roger’s accumulated grant and bond entitlements.

• $1,500 in grant entitlements per year at the 300% matching rate ($1,500 x 9 years for a total of $13,500);
• $2,000 in grant entitlements per year at the 200% rate ($2,000 x 9 years for a total of $18,000);
• $1,000 in bond entitlements per year ($1,000 x 9 years for a total of $9,000).

Upon application for his bond, his RDSP will receive $9,000 in accumulated bond entitlements.

After the RDSP is opened, with Roger’s written consent, his family contributes $800 to his RDSP in October 2016, for which his RDSP receives $2,400 ($800 × 300%) as a grant.

Roger carries forward $11,100 ($13,500 – $2,400) in unused grant entitlement at the 300% rate and still carries $18,000 in unused grant entitlement at the 200% rate.