1. Saving Plans
At the point when the funds are withdrawn, the investment income becomes taxable in the hands of the child. ... Key benefits include: Parents, grandparents, aunts, uncles or friends may be permitted to contribute to the child's education (depending on the type of plan). Contributions to an RESP can be made any time of the year, however December 31st is the calculation deadline for the CESG. There are no foreign content restrictions on investments held in an RESP. ... By giving you the option of choosing from a wide variety of qualified investments you have mor...
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- Grade Level: High School