RESP Explained Part 2 | Withdrawals for Child's Education | Canadian Tax Guide Chapter 6
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RESP Explained Part 2 | Withdrawals for Child's Education | Canadian Tax Guide Chapter 6
How to I Withdraw from an RESP? What Happens if my Child Decides Not to Go to School? Should I open an Individual Plan or a Family Plan? How are RESP Withdrawals Taxed? This is Part 2 of my RESP Explained series where I break down all of the basics of the Registered Education Savings Plan for Canadian parents! Make sure you watch Part 1 to ...
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When Shayla turned five years old, her mother opened up a Registered Education Savings Plan (RESP) and started making 600 end-of-quarter contributions. The RESP earned 7.46 % semi-annually. At the end of each year, Human Resources and Skills Development Canada (HRSDC) made an additional deposit under the Canada Education Savings Grant (CESG) of 20 % of her annual contributions into her RESP. Calculate the total maturity value available for Shayla's education when she turns 18 . | Numerade
When Shayla turned five years old, her mother opened up a Registered Education Savings Plan (RESP) and started making 600 end-of-quarter contributions. The RESP earned 7.46 % semi-annually. At the end of each year, Human Resources and Skills Development Canada (HRSDC) made an additional deposit under the Canada Education Savings Grant (CESG) of 20 % of her annual contributions into her RESP. Calculate the total maturity value available for Shayla's education when she turns 18 . | Numerade
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