All items tagged with: RESP
Posted in: Strategic Thinking , Debt Management, Financial Literacy, CRA, tax credits, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, RESP, education savings, tax courses, tax deductions, CESG, financial education, post-secondary education, CE summits, Registered Education Savings Plan, Canada Education Savings Grant, education debt, tuition credits, education deductions, student tax credits, Canadian government, adult education, social benefits, financial assistance, cost of post-secondary education, how to afford university, Canada Learning Bond, debt and cash flow management course
The majority of Canadian financial professionals and business leaders say the government is not doing enough to support post-secondary education, according to an online poll conducted by Knowledge Bureau, Canada’s premiere national institute for excellence in financial education. These findings come despite generous, but underutilized, support from the RESP, Canada Education Savings Grants and Canada Learning Bonds.
Posted in: Strategic Thinking , Debt Management, Tax Planning, Financial Advisor, knowledge bureau, TFSA, RESP, rrsp, education savings, distinguished financial advisor, financial education, professional development, post-secondary education, CE Summit, student debt, student loans, CIBC poll, back-to-school, Marcia Elaschuk, consumer debt, reducing debt, debt solutions
Three-quarters (74 per cent) of Canadian post-secondary students believe they will need to supplement their schooling with more training after graduation, despite already spending on average $14,000 each year and expecting to owe $30,000 in debt by the time they complete their current program.
Posted in: Strategic Thinking , Federal Government, knowledge bureau, Evelyn Jacks, tax tips, RESP, back to school, tax deductions, CESG, post-secondary education, Registered Education Savings Plan, Canada Education Savings Grant, saving for education, tax benefits, Education Assistance Payments, investment earnings, RESP contribution limits, government assistance for education, tuition fees
Did you know that dentistry, pharmacy, medicine and law are the professions with the highest undergraduate tuition fees in Canada, ranging from $10,000 to $18,000 per year? The average tuition fee for all faculties is just under $6,000 a year. With this in mind, most families could find it challenging to fund their family’s lifelong educational needs. The Registered Education Savings Plan (RESP) can help.
Posted in: Poll , Federal Government, knowledge bureau, Evelyn Jacks, tax tips, RESP, back to school, tax deductions, post-secondary education, Registered Education Savings Plan, Canada Education Savings Grant, saving for education, tax benefits, Education Assistance Payments, investment earnings, RESP contribution limits, government assistance for education, tuition fees
Does the government do enough (e.g., Lifelong Learning Plan, Registered Education Savings Plan) to support post-secondary education in Canada?
Posted in: Strategic Thinking, You Asked Us, Investment & Retirement, Tax Planning , RESP, CESG
I have a 13 year old son for whom I just opened an RESP in 2013. How much would I have to annually contribute to the RESP in order to catch up and maximize on the savings grant that the government contributes before my son turns 18?
Posted in: Strategic Thinking, Tax Tips, Tax Planning , RESP, back to school, student tax tips
With back-to-school just around the corner, there are several important recent tax issues for students that will be helpful to keep in mind for the year ahead.