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Save for your child's future with a RESP.
A Registered Education Savings Plan (RESP) is a tax-sheltered government plan that allows you to contribute up to $50,000 for a child’s post-secondary education – whether it’s your child, a grandchild or a friend's child.
Enjoy the benefits of an RESP
- Grow your money – Because your RESP is tax-free, your earnings will be tax sheltered.
- Anyone can contribute – Niece, nephew, child of a friend or your own child – you can help make their future educational dreams a reality.
- Less tax when withdrawn – When the child begins to withdraw funds for their education, they will pay less tax as they will likely be in a lower tax bracket.
- Benefit from the Canada Education Savings Grant – The federal government will contribute up to a lifetime maximum of $7,200 to your child's plan.