Tax memo: RESPs: A user’s guide

Memo No. 2012-50

Contributing to a registered education savings plan (RESP) is an attractive way to save for a child’s post-secondary education. Matching federal (and in some jurisdictions, provincial) grants make RESPs particularly appealing.

Although RESPs sound simple – your money earns investment income that is tax-free until it is withdrawn when the child attends college or university – they can be surprisingly complex.

This Tax memo will help you navigate the complexities and maximize the benefits of RESPs.