In the continuation of our Understanding the Disability Tax Credit (DTC) series, we shift the focus to what happens after approval, and why this step can be more impactful than many Canadians expect.

In this episode of Think Smart with TMFG, we break down how the DTC works from a financial perspective, including how the non-refundable tax credit can reduce taxes payable and be transferred within a family when it can’t be fully used.

We also discuss the potential for retroactive tax adjustments, which can lead to meaningful refunds depending on how long eligibility has been in place.

Beyond taxes, we explore what the DTC unlocks, including access to the Registered Disability Savings Plan (RDSP), government grants, and the long-term benefit of tax-deferred growth.

The conversation also covers important planning considerations, such as protecting government benefits, structuring assets properly, and how strategies like a Henson Trust can help preserve income support while managing wealth effectively.

📌 If you’d like help understanding how this could fit into your financial plan, you can connect with our team here: Schedule a meeting.

Question for our listeners: If you or someone in your family qualifies for the DTC, are you fully using the opportunities that come with it?

🎧 Watch the full episode on YouTube.

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In this special episode of Think Smart with TMFG, we’re launching a new series, Client Stories, conversations with clients about the experiences, decisions, and challenges that have shaped their lives and financial journeys.

To begin the series, we sit down with Rob McClelland, founder of The McClelland Financial Group of CI Assante Wealth Management Ltd, to reflect on what it really took to build a business from the ground up, and the lessons that only become clear in hindsight. Rob shares the uncertainty, financial pressure, and personal sacrifices that came with starting out, along with the mindset, discipline, and calculated risk-taking that helped him keep moving forward.

We also explore what it means to grow something sustainable over time, from leadership and hiring to systems, recurring income, and balancing business growth with family life. More than a business story, this conversation is about long-term thinking, resilience, and what it takes to build something that can last beyond you.

📌 If you’d like to learn more about who we are and how we help individuals, families, and business owners navigate long-term financial decisions, you can connect with our team here: Schedule a meeting.

Question for our listeners: If you were building something from the ground up, what would you want to get right from the beginning?

🎧 Listen to the full episode on YouTube.

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

The Disability Tax Credit (DTC) is one of the most overlooked tax benefits available to Canadians, and many individuals and families may not realize it could apply to them.

In this episode of Think Smart with TMFG, we break down who may qualify, how the DTC works, and why it can be much more important than people think. While many assume it’s the same as disability income or government support, the DTC is actually a federal tax credit that can open the door to other financial opportunities.

We also discuss why eligibility is based on how a condition affects daily living, and how approval may lead to benefits like retroactive tax savings, access to an RDSP, and other planning opportunities for individuals and families.

This episode is a starting point for understanding how the DTC works, and why it may be worth looking into if disability has affected you or someone in your family.

📌 If you’d like help understanding how this could connect to your financial plan, you can connect with our team here: Schedule a meeting.

Question for our listeners: Have you ever looked into whether the Disability Tax Credit could apply to your situation?

🎧 Watch the full episode on YouTube.

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/