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RESPs - Registered Education Savings Plan

RESPs allow you to split your investment income with your children.  The advantage is the investment income earned in the plan is not taxed until it is withdrawn from the plan and then it is taxed on your child's tax return.  Another benefit of RESPs is that the federal government will give a 20% grant on contributions of up to 2000 dollars per year.

You can purchase RESPs from most financial institutions.  If you require more information, contact Gerald at 250-423-6881 or (gerald@geraldprice.com)

Note: This information is of a general nature. Although I endeavor to ensure its accuracy and timeliness, no one should act upon it without appropriate professional advice after a thorough examination of the facts of the particular situation.