Registered Education Savings Plan (RESP)
The RESP is a tax-sheltered education savings account that can help you, your family, or friends save for a child’s education after high school.
A benefit that has now ended: Children born after 2005 are able to have access to the ACES (Alberta Centennial Education Savings) Program which is only available in Alberta. This program gives the child $500 to go into an RESP account which can be set up in a Segregated Fund.
To learn more about saving early for a child’s education please call us today!
Registered Retirement Savings Plan (RRSP)
An RRSP is an account that provides tax benefits for saving for retirement in Canada. RRSP refers to a provision in the Income Tax Act that allows a person to shelter financial property from income taxes until a later date.
For example: an RRSP can be held in many types of savings vehicles such as Segregated Funds, GIC’s see Traditional Investing.
If you’d like to learn more about investing options for your registered funds, please call us today!