Experts, I am asking this question on behalf of my friend from Calgary who has an autistic kid in his family.
Kid was officially diagnosed in September 2014. Now here are their questions:
1. They had some contributions to RESP. In case kid wont be able to study in college/university can they move those funds into RDSP without any tax related problem ?
2. They are now thinking of treating kid with speech language sessions and ABA/IBI services, are those therapies tax deductible?
How deductible those are , like RRSP account contributions or just some % of total sum?? Is there limit on tax deductions for the therapies?
Kindly advise. Many thanks for your help in advance.
Kid was officially diagnosed in September 2014. Now here are their questions:
1. They had some contributions to RESP. In case kid wont be able to study in college/university can they move those funds into RDSP without any tax related problem ?
2. They are now thinking of treating kid with speech language sessions and ABA/IBI services, are those therapies tax deductible?
How deductible those are , like RRSP account contributions or just some % of total sum?? Is there limit on tax deductions for the therapies?
Kindly advise. Many thanks for your help in advance.