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RESP



A RESP is a government-approved plan to help you save for your child’s post-secondary education to a maximum of $50,000. Income earned within the plan is not taxed until it's withdrawn In addition to tax-deferred growth, the federal government will also automatically contribute a Canada Education Savings Grant (CESG) of 20% of what you put in, up to $500 per year – to a lifetime maximum of $7,200 for each child. lifetime maximum of $7,200 for each child.

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