Establishing an RESP

September 27, 2021 | Charles W. Cullen III


With the high cost of post-secondary education, many parents and other family members recognize the need to save for the future expenses. That's why the registered education savings plan (RESP) is such a popular savings vehicle. Not only is the tax on the income accumulating in the plan deferred until funds are paid out, the federal government and some provinces may also contribute to the plan. This article discusses setting up an RESP, government incentives and savings strategies involving RESPs.


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