Contributions to an RESP may be made at any time in the year.  
​As little as $25 per month may be contributed.  Added up over the years, this is a significant saving.  

Please contact me for more information and suggestions how to maximize your contribution.    416-380-2221

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Deadline for 2017 contribution is February 28, 2018.

Contributions may be deposited at any time during the year up until the deadline for that year.

More information to follow.

Please see my   February newsletter  for investment suggestions.

Benefits of saving for your child's post-secondary education with a
Registered Education Savings Plan (RESP).

Government contributions
The federal government will provide a grant to your RESP contributions (up to a maximum of $500 per year, per child) with the Canada Education Savings Grant (CESG). The CESG is payable until the end of the calendar year a child turns 17, and the maximum lifetime grant payment is $7,200.

Tax-sheltered Interest
Although contributions are not tax-deductible, all investment income generated in the RESP is tax-sheltered as long as it remains in the plan.
Flexibility of use
The withdrawals can be used for a variety of education costs, including tuition, books and living expenses.  Timing of withdrawal of funds is determined by you. 
Tax savings for the contributor
When money is withdrawn and used to pay for the child's post-secondary education, the plan earnings and government contributions are taxed according to the child's income at that time. As a student, he/she may pay little or no taxes on the money.  


​   Cary Fox
Independent Insurance Broker

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