Tax Credits, Financial Savings Plans and Rebate Programs
Disabled Property Tax Relief in Ontario
This program provides a 10% rebate on your municipal property taxes each year for owners of homes that are built or modified to accommodate persons with disabilities. This applies to people who would otherwise have to live in other premises where they can get special care. The exemption applies to any increase in value as a result of changes made to the exiting home after May 15, 1984 to accommodate an eligible person with a disability, or 10 percent of the assessed value of a new home that is built to provide housing.
Ministry of Revenue: Refund of Sales Tax – Motor Vehicles
Under certain conditions a refund of retail sales tax may be obtained on certain licensed motor vehicles purchased for the purpose of transporting people with permanent physical disabilities. Tax paid on long term leases, those 12 months or longer, may also be refunded. Application forms are available at the Ministry of Revenue or at the above listed website.
215 Eugeine Street West, Unit 103, Windsor, ON N8X 2X7
Application for Refund Form: refundmotor.pdf
Registered Disability Savings Plan
The RDSP is a long-term savings plan for Canadian residents who have a disability, who are under the age of 60, and who are eligible for the Disability Amount or Tax Credit. A matching Canadian Disability Savings Grant of up to $3,500 per year will be paid on eligible contributions made to an RDSP. The Government of Canada will also contribute a Canadian Disability Savings Bond of up to $1,000 per year to the RDSP of eligible Canadians who have a low or modest income, even if no contributions can be made.
A Henson Trust, is a special form of Trust arrangement. A child or adult who receives Child Benefits or Ontario Disability Support Program benefits will be disqualified from receiving them if left an inheritance, unless the parents’ Will creates an absolute discretionary “Henson” Trust, which will protect the inheritance. The Henson Trust is funded by insurance or assets, and suitable Trustees are chosen to carry out the terms of the Trust. For more information contact your financial advisor.