Million Dollar Journey

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Building Wealth through Saving and Investing

Welcome to Million Dollar Journey! If you're new here, you can learn about me, read our user guide, and even follow my net worth updates. A great place to start reading is with the popular articles located in the right side bar. If you would like to join thousands of others and keep up with the free daily updates, you can subscribe to the RSS feed via reader or E-mail.

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Another Market Crash, Needs and Wants, House Sold in 5 Days and More..

I’m scared…Could we be heading to another market crash? @Canadian Money Forum

When Needs Are Actually Wants @Boomer and Echo

How We Sold Our House in 5 Days @Balance Junkie

The role of insurance in estate planning @Retire Happy

A Frugal Marriage, Five Years in the Making @ Frugal Dad

A Blanket Ban on RRSP Swaps is a Bad Idea @ Canadian Capitalist

selling on eBay for passive income @ Brip Blap

Better Investment Fee And Performance Disclosure Might Help @ Money Smarts Blog

Are You Still Bullish on Investing in the Long Term? @ Lazy Man and Money

Live to Work; Work to Live @ Canadian Finance Blog

How To Measure Investment Volatility: Capital Asset Pricing Model & Beta @ The Digerati Life

Money Stuff My Dad Says @ Financial Highway

Fight the Urge to Splurge @ Generation X Finance

How to Organize A Clothes Swap @Young and Thrifty

Heroes of the Frugal Freezer @ Sun’s Financial Diary

Yikes: CPI hits 3.7% Gas to Blame for May 2011 @Canajun Finances

Kids and Money: A Summer Job for Our Niece @ My Dollar Plan

Sustainability Tip #184: Choose Your Travel Time @Sustainable PF

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Little-known Canadian Benefit Programs – II (Disabilities)

In the previous post, we looked at some of the federal benefit programs available to Canadian residents. This week, we’ll continue the series by touching upon a few more programs in place for our benefit.

Grant for Students with Permanent Disabilities

This grant offers $2000 per school year to qualifying students with permanent disabilities to cover tuition, textbook, and accommodation expenses. The student should be enrolled in a part-time or full-time program at a recognized educational institution and must provide proof in the form of a medical certificate or document to prove that they are a recipient of federal/provincial disability assistance.

Grant for Services and Equipment for Students with Permanent Disabilities

Delivered by Human Resources and Skills Development Canada, this grant offers up to $8000 as non-repayable funds per school year to students with permanent disabilities enrolled in a part-time or full-time program at a recognized educational institution. The qualifying disabilities include exceptional education-related services or equipment such as tutors, technical aids, or interpreters. Proof in the form of a medical certificate or paperwork showing receipt of federal/provincial disability assistance and documentation from a qualified person affirming the need for the exceptional education-related service or equipment is required. More details about qualification for this grant can be found on the Canada Student Financial Assistance Regulations page.

Permanent Disability Benefit

Persons with a permanent disability who are finding it tough to repay their Canada Student Loan due to their disability may be eligible for the Permanent Disability Benefit. The qualification process will involve consideration of net family income including assistance received from social programs. An application packet can be obtained from the National Student Loans Service Centre.

Residential Rehabilitation Assistance Program for Persons with Disabilities (RRAP — Disabilities)

This program can be used by homeowners and landlords to seek monetary aid, in the form of a forgivable loan, for modifying their dwelling to make it easier to access for people with disabilities. Qualifying home alterations include removing safety hazards and enhancing the ability of such occupants to perform their day-to-day activities (e.g. handrails, ramps, or bath lifts; supportive/therapeutic care and portable aids such as walkers do not qualify). The dwelling must be used by a low-income person with a disability; if rented, the rent must be below designated amounts for the area, or if owned, the house must be valued below a prescribed limit. This handy tool should help to determine eligibility based on your area of residence. Either way, the property must not have structural shortcomings that instigate such modifications.

Canada Pension Plan Disability Vocational Rehabilitation Program

This program is meant to aid recipients of the Canada Pension Plan disability benefit to return to work; the rehabilitation program is in place for recipients who can and want to return to work. Some facets of the program include guidance, development of new skills, and retraining to help people with disabilities return to their former job, a modified form of their former job, find a new job based on their newly-acquired skills, or prepare for self-employment. They also help in the job-search phase by assisting in preparing résumés, developing interviewing skills, etc.

The Disability Tax Credit is one of the well-known tax provisions available for the benefit of people with disabilities. Please refer to the Disability Tax Credit Certificate form for further details.

Have you applied or helped someone apply for any of these benefit programs? Did you happen to automatically qualify for and receive a related benefit without being aware of it?

About the Author: Clark works in Saskatchewan and has been working to build his (DIY) investment portfolio, structured for an early retirement. He loves reading (and using the lessons learned) about personal finance, technology and minimalism.  You can read his other articles here.

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Recent Comments

  • JT: Thanks, Ed. That is what I suspected. JT
  • Ed Rempel: Hi JT, You have to be careful taking out the growth. In your example, you sell $20,000 and 5/6 of that is...
  • Ed Rempel: Hi K, A couple things: 1. Leveraged investing is a high risk strategy. If your risk tolerance is only at...
  • Loonie Lover: Just on the subject of dotting the “i”s and crossing the “t”s, don’t...
  • LifeInsuranceCanada.com: Brief summary: Spouse gets everything when I die :). Seriously, my planning goes like this....
  • Jeff Guarino: The explanation is all wrong. My commuted valued continues to go lower as I get older. I can retire at...
  • K: Great Idea, thanks Cannon. Could you run the Rempel Maximum with the inputs below? I would be very interested to...
  • JT: I have a question similar to K’s on drawing off returns and transferring them to a TFSA: Does 100% of a...
  • cannon_fodder: Hi K, Why don’t you post some scenarios here because if we can accomplish the calculations with...
  • cannon_fodder: Hi K, Why don’t you post some scenarios here because if we can accomplish the calculations with...
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