Save for school the smart way
How it works:
- When you make RESP contributions, you’ll have your choice of investments, including GICs and mutual funds.
- Receive federal government grant (a 20% bonus of up to $500 every year, to a lifetime limit of $7,200 per child).
- Contributions are not tax-deductible, but all investment income is tax-sheltered as long as it remains in the Plan.
- Withdraw money for the child's post secondary education.
- When money is withdrawn, earnings and government contributions are taxed in the hands of the child.
- Qualifying low to middle-income families can access Canada Learning Bonds and enhanced Canada Education Savings Grants.
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Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.