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.
- 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.