Welcome to Smart RESPs

A Registered Education Savings Plan (RESP) and the Canada Education Savings Grant (CESG) can help you save for your children's education! - Learn how. What is an RESP? An RESP (Registered Education Savings Plan) is a great way to save and invest for your children's education. An RESP is simply an investment plan that allows your investment to grow tax-free until your child is ready for post-secondary education. The Canadian government also contributes free grant money to your plan through the Canada Education Savings Grant ! As the returns earned on RESPs grow tax-free, your money grows faster than it would in a normal savings account - making an RESP the ideal way to save for your child's future. The Canada Education Savings Grant ( CESG )* is a program of the Federal Government which adds 20, 30 or 40% to your annual RESP contributions (up to $500 per year, per child to a lifetime maximum of $7,200) until your child turns 18. RESPs are registered under the Income Tax Act in Canada. *Conditions apply There are several types of RESP available, so it's important to understand the details - such as what they are invested in, the level of risk, costs and cancellation policies. There's much more information on this site to help you determine what's best for you. Contact us for a Free, No Obligation Consultation

The result? If you contribute $2,500 annually to your RESP plan, the Canadian Government will kick in an extra $500 per year. Highlights of the CESG: If you opened your Plan in 1998 or later and haven't collected any Grant money yet, you are entitled to a maximum of $500 for each year you missed. These payments are not included in the calculation of your maximum contribution amounts. If you can't contribute to your RESP for one or more years, you're still entitled to receive CESG* payments for those years. For instance, if you stop making RESP contributions for two years and then start contributing again, you'll be eligible for an additional $1000 of CESG* payments in the year you start up your plan again. In other words, you can carry forward the maximum annual amount for each year you missed. *CESG payments and interest will be paid to the beneficiary when he or she enrolls in an eligible post-secondary program. With an RESP in Canada you - the contributor - get a tax break! Your savings grow tax-sheltered. * Conditions apply.