The government offers grants such as The Canada Education Savings Grant (CESG and Canada Learning bond (CLB). Continue reading to know more about government contributions.
The accumulated earnings withdrawn from RESP is taxable at marginal tax rate. Let's figure out some more details on RESP in Canada.
Contributing to a Registered Education Savings Plan is worthwhile if you are certain that the money contributed will be used for higher education of the beneficiary. Let's catch up with some more details.
There are various benefits of contributing into a RESP. These include tax advantage, receiving of government grant, available investment options etc.
Registered Educational Savings Plan is a tax advantageous investment plan registered with federal government of Canada. This is used to accumulate funds for higher education.