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An RESP is a government approved plan for the
purpose of providing post secondary education funding for a beneficiary.
Income earned within the plan is not taxed until it is withdrawn.
The Canadian Educational Savings Grant
Program allows eligible beneficiaries to receive grant monies based on
annual contributions to the plan.
The government will contribute 20% annually
on the first $2000 deposited into an RESP for children up until the end of
the year they obtain 17 years of age. (some exceptions apply).
Let the government help pay for your
children's and grandchildren's education.
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