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Tag Archives: Government
POSTED BY Caroline Cakebread
Don’t Leave Money on the Table: Save for Your Child’s Education With a Registered Education Savings PlanPOSTED BY Robin Taub, CPA, CA
The RESP was created to encourage parents or other relatives to save for their children’s post-secondary education. The amounts you put into an RESP are not tax deductible – that is, you must first pay tax on the money you contribute. But you do not pay tax on any gains or investment income you earn while the funds remain in the plan – they are sheltered from tax. MORE