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Registered Education Savings Plans (RESPs)
Investing in your children at an early age is one of the best gifts you can give them. Higher education opens up a world of potential, but it comes with a hefty price tag. Registered Education Savings Plans (RESPs) are one of the best ways to build a bright future for your child. Let us help you set up an RESP to maximize your savings with government grants, which can earn an immediate 20% return on your contributions.
- Your investment will grow tax-free until your child begins their post-secondary education and making withdrawals
- No minimum contributions
- Ability to contribute $50,000 per beneficiary
- Withdrawals count as taxable income, but being a student, they will be charged little or no tax
- Could be a great gift – anyone can open a RESP for your child!