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When withdrawing from an RESP, there are a variety of considerations to keep in mind, such as is this the first time the beneficiary is attending post-secondary education, are they attending full or part-time, and what makes the most sense – withdrawing EAP and/or PSE. This RESP decision tree outlines the different withdrawal options available depending upon the students circumstances.
For additional information about maximizing your RESP’s value, please see here.
2025 Wellington-Altus Corporate Tax Reference Card LIF and RLIF Minimum & Maximum Factors
Canadians have access to a plethora of tax-preferred vehicles for saving and investing, each of which provides unique planning opportunities and trade-offs, as well as their own rules and conditions that must be followed.
The Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, announced that the federal government will postpone the implementation of the proposed increase to the capital gains inclusion rate—from one-half to two-thirds. Originally set to take effect on June 25, 2024, the new proposed implementation date is now January 1, 2026.
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