RESP Archives - Shajani CPA - Chartered Professional Accountants & Advisors

RESP 21 Year Plan

January 9, 2023
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Registered education savings plans managed effectively will allow for a free $7,200 Grant (Canada Education Savings Grant (CESG)) to be used for education purposes towards a child’s education plus investments that can grow tax deferred. The CESG is based on 20% of a $2,500 contribution made each year and available until the calendar year in…

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RESPs

January 9, 2023
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

An RESP is an education savings account that is registered with the Government of Canada for parents (grandparents, other family members and friends) who want to save for a child’s education after high school. The plan can be opened for an individual child or within a family plan where children are related by blood or…

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RESP Tax Plan

August 8, 2022
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

As we gear up for back to school for the little ones, it is important to prepare for the years after graduation. If you anticipate your children will attend post-secondary education, planning for this costly period should be done years in advance. And done correctly, this will save you tax dollars. Registered education savings plans…