Registered Education Savings Plan (RESP)

Our Money Advisors team explains:

  • Your investment products (savings account, bonds, guaranteed investment certificates GICs, mutual funds or stocks)
  • Advantages and risks of each product
  • Administration and penalty fees

Plan your Child’s Education with an RESP

The Government of Canada can help you save for your child’s future with a Registered Education Savings Plan (RESP).

An RESP is an education savings account registered with the Government of Canada, helping your family save money for your child’s continued education after high school. The money in the RESP will be invested so it can grow and earn interest. You will not be taxed on the income.

The 3 types of RESPs.

  • Donors can contribute appreciated property, including securities or real estate, receive a charitable deduction for full market value of the asset, and pay no capital gains tax on the transfer
  • Donors who establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed, minus the present value of the income interest retained; if they fund their gift with appreciated property they pay no upfront capital gains tax on the transfer
  • Gifts payable to charity upon donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, do not generate a lifetime income tax deduction for the donor, but they are exempt from estate tax

Mutual Funds provided through Carte Wealth Management Inc.
Insurance and segregated funds provided through PPI and Money Advisors.


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Cathie Orfali

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Money Advisors Inc.

235 Montreal Rd. Suite 100
Ottawa, ON
K1L 6C7
(613) 695-7526

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