Grants

Canada Education Savings Grant (CESG): The government provides a matching grant of up to 20% on the first $2,500 contributed annually per child. Depending on the family's income, additional CESG grants may be available.

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Tax-Deferred Growth

Contributions made to an RESP grow tax-free until they are withdrawn. This allows the investment earnings to compound over time without being subject to annual taxation, maximizing the potential growth of the savings.

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Flexible Contribution Limits

There is no annual limit on RESP contributions, but there is a lifetime maximum of $50,000 per beneficiary. This allows parents to contribute based on their financial capabilities.

Carry-Forward of Grant Room

If the maximum Canada Education Savings Grant (CESG) is not received in a particular year, unused grant room can be carried forward to future years. This feature allows parents to catch up on missed grants