Helping you give the right tools to your children!
An RESP is a Registered Education Savings Plan. It is intended for parents who wish to save for their child’s post-secondary education within Canada.
The advantages of an RESP – Having an RESP allows you access to the:
• CESG (Canada Education Savings Grant)
• CLB (Canada Learning Bond)
• Certain Provincial Canadian Incentives
• Tax-Deferred Earnings
How it works
CESG: Up until the beneficiary reaches the age of 18, the government will match 20% on the first $2,500, with a maximum of $7,200 per beneficiary up to 18 years of age, contributed (annually) towards the RESP.
Tax-Deferred Earnings: The investment growth and interest is not taxable as long as the funds remain in the plan.
Eligibility for RESP Contributions
The contributor can invest any amount into an RESP up to 31 years and with a limit of $50,000 per beneficiary.
For all inquiries and information on RESPs we invite you to contact us.