The RESP is designed to encourage individuals to accumulate savings for the post-secondary education of beneficiaries (children or grandchildren). The RESP offers significant incentives:
- Earnings on RESP investments accumulate on a tax-sheltered basis;
- Contributions are not deductible and are subject to limits;
- Eligible Grants are subject to annual limits;
- A beneficiary can have multiple RESPs;
- You can transfer an existing RESP to another RESP of your choice.
Contact us to learn about the full range of options and tools we can make available to you.