RESP

RESP

Creating possibility often goes hand in hand with a higher education. But it’s also a big investment. RESPs are one of the best savings tools you can use to create this possibility for your children, grandchildren or yourself. With RESPs:

  • you can contribute up to a lifetime maximum of $50,000 per child
  • you can receive up to $500 per beneficiary per year from the Canadian Education Savings Grant
  • all the money earned within the plan grows tax-free until it’s withdrawn
  • only the accumulated interest is taxable as income once the beneficiary enrolls in his/her studies

We can help you with all of your education planning needs. For more information or to book an appointment with one of our Education Planning specialists, contact us.