Registered Education Savings Plan (RESP)
Your children are your everything; they’re your biggest priority. At Cal LeGrow, we want to help you build the best future for them.
To that end, a Registered Education Savings Plan (RESP) will grow your contributions, tax-deferred, until the child attends university, college, or a vocational institute. When the time comes, the money will be there for the ones you love.
What you need to know:
- The Federal Government of Canada offers:
- A Canada Education Savings Grant that will top up your contributions by 20%, up to $500 per year, and $7,200 in a lifetime.
- A Canada Learning Bond that assists low-income families.
- RESPs are available as individual or family plans.
- Withdrawals are taxed from the student, who will generally be in a lower tax bracket.
- You decide when and how much money is withdrawn, and what the funds will be used for: tuition, books, or living expenses.
Call our team today and build the most financially secure future for the youth in your life.