Secure Your Child's Educational Journey with RESP
A Registered Education Savings Plan (RESP) is more than just a savings account. It’s a commitment to your child’s future. Serving families in Ontario & Alberta, we offer specialized RESP management services to help you build a substantial educational fund, leveraging government grants and tax-deferred growth.
Understanding RESPs
RESPs are designed to facilitate saving for a child’s post-secondary education. Contributions grow tax-free until withdrawal, at which point they are taxed in the student’s hands, typically at a lower rate.
Government Grants
Enhance your savings with the Canada Education Savings Grant (CESG) and other provincial incentives.
Tax-Deferred Growth
Investment income is not taxed until withdrawal.
Flexible Contribution
Tailor your investment based on your financial situation.
Crafting Your RESP Strategy
Our approach considers your financial goals, the child’s educational aspirations, and the unique opportunities available in Ontario & Alberta. We’ll guide you through maximizing grants and choosing investments that offer growth potential.
Frequently Asked Questions
The CESG provides 20% on the first $2,500 contributed annually, up to a maximum of $500 per year, with a lifetime limit of $7,200 per child.
Yes, RESPs can fund various types of education, including full-time and part-time studies in trade schools, colleges, and universities.
The RESP can be transferred to another child or the contributions returned to the subscriber. The CESG must be returned, and investment income may be transferred to an RRSP under specific conditions.
Why Choose Agam Singh Financial
for Your RESP?
We’re committed to helping families in Ontario & Alberta navigate the RESP process, ensuring you make the most of your savings and government grants.
Request an Appointment
Begin your child’s educational savings journey with confidence. Contact us today to explore how an RESP can support your child’s dreams and aspirations.
Phone
(647) 894 4790 - CELL
Location
2682 Islington Avenue Etobicoke, ON M9V 2X5
agams@singhfinancialltd.com
Hours
9:00AM - 04:00PM