Tag · Canada
CESG
Loopholes Tagged "CESG"
Plain-English guides to Canadian legal rights and workarounds related to CESG.
Easy student-loans-education
RESP Government Grants — Collect Up to $7,200 in Free Federal Money for Education
The federal government automatically adds 20% to RESP contributions — up to $500 per year per child in free grants, with a lifetime maximum of $7,200.
Medium If You're Saving for Retirement
RESP-to-RRSP Conversion (Accumulated Income Payment)
If a child doesn't pursue post-secondary education, RESP subscribers can roll up to $50,000 of accumulated income directly into their RRSP — tax-deferred — avoiding a hefty penalty tax, provided they have available RRSP room.