If you are:

• applying for Ontario Disability Support Program Income Support, or
• receiving Income Support from the program

you need to tell your worker about any assets you or your family own.

We consider your assets when we are reviewing your eligibility to receive Ontario Disability Support Program Income Support.

Examples of assets

Assets are property, possessions or money that belong to you or your family. Here are some examples:

• cash
• money you have in bank accounts
• stocks and bonds
• Registered Retirement Savings Plans (RRSP)
• vehicles
• property (for example, land or a house)
• trust funds
• any other assets that you or your family own.

Some assets are exempt

Some assets are "exempt" - this means they do not affect your eligibility for Income Support. Here are some examples of exempt assets:

• the home you own and live in
• your primary vehicle (the one you use the most, if you have more than one)
• trust funds derived from an inheritance or life insurance policy, up to allowable limits
• the cash surrender value of life insurance policies, up to allowable limits
• pre-paid funerals
• Registered Education Savings Plans (RESP)
• Registered Disability Savings Plans (RDSP)
• necessary household and personal items, such as furniture and clothing.

These are only a few examples. There are many rules about the treatment of assets while you are receiving Income Support.

Your Ontario Disability Support Program worker can help you figure out which of your assets are exempt. That's why it is important that you report all of your assets to your worker.

Asset limits

There are limits to the amount of non-exempt assets you can have and still remain eligible:

• for a single person, the limit is $40,000

• for a couples, the limit is $50,000

When you can go over the limit

In some cases, you can get approval to save money over and above your asset limit. For example, you may save money to buy an item or service that you need for your health or for your disability. Talk to your Ontario Disability Support Program worker.

Learn more Treatment of inheritances, life insurance and trust funds Treatment of Income Disability-related items and services For more on the treatment of assets go to Income Support Directive 4.1 - Definition and Treatment of Assets