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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.
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On December 16, 2024, amid a tumultuous day at Parliament Hill, the Federal Government released its heavily delayed 2024 Fall Economic Statement (FES 2024). Earlier that day, the Honourable Chrystia Freeland resigned as Deputy Prime Minister and Minister of Finance. In her absence, FES 2024 was tabled, but not presented or debated in the House, while the Honourable Dominic LeBlanc was being sworn in as Canada’s new Minister of Finance.
Tax planning is a year-round activity, however as 2024 comes to an end, there are several key opportunities to take advantage of available credits, deductions, and savings.
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