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.

Basics

  • 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

Advantages

  • 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  • tax on growth deferred until income withdrawn (then taxed at the marginal tax rate)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

PS Network

Market Better
twitter.png Twitter
blogger.png Blog
marketingreflections.png Newsletter
Spark Insight
website.png Website
Grasp Risk
twitter.png Twitter
blogger.png Blog
website.png Podcast
website.png Website
Tame Risk
website.png Taxevity
wip
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License