Registered Education Savings Plan

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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.
References in periodicals archive ?
para]]Knowledge First Financial is a leading provider of registered education savings plans for families.
Depending on your personal situation, RRSPs, Tax-Free Savings Accounts (TFSA), Registered Education Savings Plans (RESP) and Registered Disability Savings Plans (RDSP) can offer significant tax benefits for your investment savings.
Exempt Canadian registered retirement savings plans (RRSPs) and registered education savings plans (RESPs) from the Form 3520-A filing requirements and their U.
Though popular, registered education savings plans and the related Canadian education savings grants are a needless, complex and ill-targeted way of supporting postsecondary education.
What are Registered Education Savings Plans (RESPs)?
Lee told the couple to save $600 in income tax annually by opening three Registered Education Savings Plans and transferring the limit of $1,500 to each plan from the mortgage fund each year.
This note is eligible for Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs) and Registered Education Savings Plans (RESPs).
CEFI launches new website to help next generation of parents choose Registered Education Savings Plans
enhancements to registered education savings plans for students with disabilities,
Recall that in the November 1992 issue of ACCN, the author reviewed the rules dealing with registered education savings plans, or RESPs as they are commonly called.
Witness these developments: Investors' own disability insurance package along with custom-tailored term life was introduced; an expanded range of Guaranteed Investment Certificates and other related products were developed; 11 new mutual funds were launched during the decade, and each achieved growth beyond what was expected; Registered Education Savings Plans were introduced at the beginning of 1988; three new financial planning concepts came on stream, largely for retirement benefits.
Mullen qualifies as a mutual fund trust under the Act and as such, Units are qualified investments for registered retirement savings plans ("RRSPs"), registered retirement income funds ("RRIFs"), registered education savings plans ("RESPs"), and deferred profit sharing plans ("DPSPs"), all as defined in the Act.

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