Enjoy the benefits of an RESP
- Grow your money – Because your RESP is tax-deferred, your earnings will be tax sheltered until the child withdraws them for education.
- Anyone can contribute – Niece, nephew, child of a friend, or your own child – you can help make their future educational dreams a reality.
- Less tax when withdrawn – When the child begins to withdraw funds for their education, they will pay less tax as they will likely be in a lower tax bracket.
- Benefit from the Canada Education Savings Grant – The federal government will contribute up to a lifetime maximum of $7,200 to your child's plan.