RESP Contribution Limit | Maximum RESP Contribution | RESP Rules

RESP (Registered Education Savings Plan) Contribution Limit | Maximum RESP Contribution

RESP (Registered Education Savings Plan) Canada is a savings plan that is registered by the Government of Canada to allow savings for a child’s education to grows tax-free until the child is ready for his/her post-secondary education.The child named in an RESP is known as a beneficiary. Unlike RRSPs (Registered Retirement Savings Plans), the contribution for RESP Canada is not tax deductible.
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Posted on January 20, 2013, in Allowable Tax Deductions, Tax Time. Bookmark the permalink. Leave a comment.

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