Certified Financial Planner (CFP) Practice Exam · Question
What happens to Canada Disability Savings Bond (CDSB) entitlements if no contributions are made to an RDSP for a particular year?
Unlike the CDSG, the CDSB does not require any contributions to be made to the RDSP to be received. It is solely based on qualifying family income and DTC eligi
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Question: What happens to Canada Disability Savings Bond (CDSB) entitlements if no contributions are made to an RDSP for a particular year?
Answer options: ✅ The CDSB can still be received if the beneficiary's family income qualifies, even without personal contributions.
- The CDSB is forfeited for that year and cannot be carried forward to future years.
- The beneficiary must contribute at least CAD 1,000 to receive any portion of the CDSB.
- The amount of the CDSB is halved for that year to encourage future contributions.
Correct answer: The CDSB can still be received if the beneficiary's family income qualifies, even without personal contributions.
Explanation: Unlike the CDSG, the CDSB does not require any contributions to be made to the RDSP to be received. It is solely based on qualifying family income and DTC eligibility, up to a maximum of CAD 1,000 per year.
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