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Registered Education Savings Plan
(redirected from RESPs)

   Also found in: Wikipedia 0.01 sec.
Registered Education Savings Plan
In Canada, an account into which a person makes contributions up to a certain limit in order to save for a university education and from which he/she begins to take distributions to pay for tuition and other expenses. A Registered Education Savings Plan allows for tax deductible contributions and taxable distributions; that is, contributions are tax-deferred until withdrawals are made. Registered Educations Savings Plans may be invested in securities and usually own common stock and certificates of deposit. See also: Registered Retirement Savings Plan.


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Accounts such as RRSPs, RESPs, TSFAs are tax advantaged accounts because the income earned within those accounts are sheltered from Canada Revenue Agency.
Councillors are respS onding to a sharp increase in private hire and hackney carriage license applications from people coming from abroad.
The indicators of the current economic crisis include limited availability of credits from financial institutions, vaporization of contributions made to RRSPs and RESPs, closures of manufacturing plants, massive lay-offs; and wage/benefit concessions by unionized employees.
 
 
 
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