Registered Education Savings Plan
Registered Education Savings Plan (RESP) is a great investment tool in saving for a child’s post-secondary education.
What are the contribution rules?
- Contributions to a RESP as well as interest earned on money borrowed to contributed to an RESP are not income tax deductible
What are the contribution limits?
- As of 2007, there is no annual limit; however, the maximum lifetime limit you can contribute to an RESP account is $50,000.
Contact us today to find out more about RESP options and government assistance programs such as the Canadian Education Savings Grant (CESG).