RESPs (Registered Education Savings Plan)
The Purpose of RESP's
RESP's are a great tool in saving for your child's post-secondary education. With their exposure to the markets along with the government grants which you receive yearly, they are a very effective way to accumulate for the future.
Features & Advantages
The money accumulates tax free!
The Canadian Government will add a yearly grant of 20% on top of what you invest per year. The maximum grant being $400.00 for each child, for every year of the plan; attained with an investment of $2,000.00 per year.
The 20% matching rate is doubled to 40% for families with incomes up to $35,000. It also increases the rate to 30% for families with incomes between $35,000 and $70,000. These enhanced CESG rates will apply to the first $500 contributed in a year to a child's RESP.
A $500 Canada Learning Bond is now provided at birth for children in families that are entitled to the National Child Benefit ( NCB ) supplement - generally families with incomes under $35,000.
How Do I Apply?
Email Jane: jane@hffn.net to set up an appointment with Sue Hood for a confidential and personal review of your needs.
Alternatively, you may call: 613-968-5127
