Navigating Finances With A Disability: All You Need To Know
Steve Wagstaff hosts Eric McGrath to explore Canada's financial systems for disabilities. They discuss Eric's background, disabled workers' average income, and the disability tax credit. Topics include tax definitions, RDSP benefits, and the Canada Disability Benefit. They cover financial planning, home equity, estate planning, tax credits for accessibility, and educational support. Advice on bankruptcy, the Canada Workers Benefit, and provincial programs is provided. The episode concludes with insights on CPP disability benefits, private pensions, and Eric's consulting services, along with a subscription reminder and a preview of the next episode.
Key Points
- Navigating Canada's disability tax credit can provide significant financial relief, including retroactive claims for up to ten years.
- The Registered Disability Savings Plan (RDSP) is a powerful tool for long-term financial security, offering government grants and bonds to help disabled individuals save for the future.
- It's crucial to have up-to-date wills and powers of attorney, especially for those with disabilities, to ensure proper care and financial management without unnecessary legal complications.
Chapters
| 0:00 | |
| 1:04 | |
| 2:07 | |
| 5:10 | |
| 13:15 | |
| 14:01 | |
| 22:27 | |
| 23:52 | |
| 29:05 | |
| 31:16 | |
| 34:20 | |
| 40:26 | |
| 43:43 | |
| 49:57 | |
| 52:03 | |
| 52:52 | |
| 54:48 | |
| 55:34 | |
| 56:41 |
Transcript
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