Registered Educational Savings Plans (RESPs)

Not updated for March 2007 federal budget. Visit other sites for the latest information.

Registered Educational Savings Plans (RESPs) help save money for a child's higher education.


  • can make deposits up to $4,000 per child per year
    • maximum of $42,000 per child
  • 20% Canada Educational Savings Grant (CESG) on first $2,000 each year


  • tax-free investment growth
  • tax on growth deferred until income withdrawn (then taxed at the marginal tax rate)
  • tax-free switches (no deemed disposition)
  • tax-free transfer the spouse upon death, if spouse is the beneficiary

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