Build up a tax-sheltered fund to finance a child’s post-secondary education. A registered education savings plan (RESP) is the ideal financial vehicle to meet the job markets education requirements and help you with mounting education costs.

Plans can be opened as as long as a Social Insurance Number has been issued.  You can visit Canlearn.ca to learn more about RESP’s.  We have outlined some of the details as follows.

  • Tax Free Savings for your Child’s Education
  • No Minimum and up to $50,000 Maximum
  • Government Grants on the first $2,500 annual deposits
  • On the first $500 you save in your child’s RESP account, the
  • Canada Education Savings Grant will give you:
  • • up to $200, if your net family income is $38,832 or less
  • • up to $150, if your net family income is between $38,832
  • and $77,664
  • • up to $100, if your net family income is more than $77,664
  • When you save more than $500 annually, the Canada Education Savings
  • Grant could add up to $400 on the next $2,000 saved.
  • The maximum lifetime grant the Government of Canada can give to your
  • child through the Canada Education Savings Grant is $7,200.

To find out more about Education Savings Plans or to set up a consultation, please contact us. We look forward to assisting in saving for your child’s education.