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Just stumbled on this thread thanks to a recommendation. Definitely going to spend some time catching up. In the meantime, if anyone wants to know more about Registered Disability Savings Plans or the requisite Disability Tax Credit, hit me up.
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Apr 24, 2023 02:58
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| # ¿ May 15, 2024 19:58 |
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mila kunis posted:Anyone here gotten a FHSA yet? Nope, but I'm a disability advisor and getting a bunch of people asking if the First Home Savings Account is considered an exempt asset for the purpose of stuff like PWD/AISH/ODSP/etc. As far as we can tell, non-exempt so you have to keep it under your asset limit. If any of you more financial savvy types hear otherwise, let me know!
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Sep 2, 2023 19:47
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Toalpaz posted:Hi folks, I'm looking for advice on opening not just a US dollar account, but an American domiciled US dollar account as a Canadian with no American citizenship or SSN. I think this is possible, but the steps are very unclear and the SEO is horrible given the terms involved. I can't help with that, but I swear I've seen you post about having ADHD. Wondering if you might qualify for the Disability Tax Credit, which would get you a break on your income tax. It would also let you open a Registered Disability Savings Plan. Hit me up if you want more info on that. There are some scams out there around the DTC, but the rule of thumb is just to avoid anyone asking for money. (Other than your doctor, who might charge a fee for filling in the forms.)
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Jan 7, 2024 21:39
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Toalpaz posted:Thanks, this is good news! I'm pretty enthusiastic about navigating finance and taxes, so I'll probably handle getting the statement from my Nurse Practitioner and filling the form t-2201/application myself. This could be an amazing windfall personally, so thank you so much. If you happen to be in BC, I can get you an advocate to help with the forms. If not, I can still give you some general advice on filling in Part B of the T2201. My job involves filling in those forms for kiddos, usually with autism and/or autism. In a nutshell, don't mention anything positive. You're trying to give the CRA a clear picture of your disabilities, not a balanced report. Also, if you get hyperfocus that's detrimental, you can mention that in the appropriate section. I use a lot of language like, "Patient struggles with adapting to change and will have meltdowns if routine is altered, e.g. crying, withdrawing." Remember that you're writing it as if the NP filled it in, not you. Generally doctors and NPs just don't have time to do the forms with the level of detail needed, especially with spectrum disabilities like ADHD, which is where my work comes in to fill that gap. Some NPs/doctors will let you fill in Part B of the T2201 yourself for them to review and sign, and it sounds like that's what you're going to do.
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Jan 9, 2024 19:43
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pokeyman posted:I was wondering whether the attribution rule applies to RDSP contributions. All I can find is "Anyone can contribute to an RDSP with the written permission of the plan holder." https://www.canada.ca/en/revenue-ag...tributions.html Sounds right to me. There isn't any tax benefit to contributing to an RDSP, except for the beneficiary, who doesn't pay tax on it even when it's withdrawn. (They do pay tax on government contributions and interest at withdrawal.) If anyone has RDSP questions, if I don't know the answer, I can find it out pretty quick. I specialize in it for work.
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Feb 28, 2024 19:29
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Are there any good books on Canadian financial literacy that are beginner level?
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Mar 4, 2024 18:11
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| # ¿ May 15, 2024 19:58 |
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pokeyman posted:Also I'm just now realizing that "financial literacy" might be a superset of "personal finance" so maybe those suggestions are too narrow, sorry. Just looking for starting places to learn more about stuff outside of my very narrow expertise (RDSP) and also needing recommendations for folks I work with. It's hard to say what I need when I'm not even sure what the necessary topics to cover are going to be. I did a course on Financial Literacy recently with Prosper Canada but it was very basic and didn't really ground anything for me. I use a financial advisor to manage the funds I hold in trust for my brother, as well as my own savings, so I've never had to learn the landscape myself.
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Mar 4, 2024 18:32
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