Taking care of a disabled child may require some financial sacrifice. There are certainly tax breaks available as discussed below and many of these will apply to adult children as well as minors. Depending on your specific circumstances and your province of residence there may also be government financial support available. Each province is different. For example, in Ontario the Ontario Disability Support Program provides financial and employment support for eligible disabled persons over the age of 18. Eligibility is income tested and determined on a case-by-case basis.
Depending on where you live, there may be local programs directed at disabled children such as sports or social activities. For example, the Mississauga Synchronized Swimming Association has a program for special needs athletes.
Information contained herein is provided for information purposes only and should not be relied upon exclusively as estate, tax planning or investment advice, nor should it be construed as being specific to an individual’s investment objectives, financial situation or particular needs. You should always obtain professional advice before acting on the basis of material contained herein. While Dynamic Funds® will endeavour to update this information from time to time as needed, information can change without notice and Dynamic Funds® does not guarantee the accuracy or completeness of this information, including information provided by third parties, at any particular time, nor does it accept any responsibility for any loss or damage that results from any information contained herein.
© 2011 DundeeWealth Inc. Reproduction in whole or in part of this content without the written consent of the copyright owner is forbidden. Snapshots™ is brought to you by Dynamic Funds. Dynamic Funds® is a registered trademark of The Bank of Nova Scotia and a division of Goodman & Company, Investment Counsel Ltd. Snapshots is a trademark of its owner, used under license.