{"id":310,"date":"2024-01-13T19:20:27","date_gmt":"2024-01-14T00:20:27","guid":{"rendered":"https:\/\/wordpress.dockhost.synology.me\/?page_id=310"},"modified":"2025-08-13T11:48:26","modified_gmt":"2025-08-13T15:48:26","slug":"transactions","status":"publish","type":"page","link":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/transactions\/","title":{"rendered":"Transactions"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"310\" class=\"elementor elementor-310\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fca7662 e-con-full e-flex e-con e-parent\" data-id=\"fca7662\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd4f8c5 elementor-widget elementor-widget-heading\" data-id=\"dd4f8c5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Transactions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-25beefa e-con-full e-flex e-con e-parent\" data-id=\"25beefa\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b5213e6 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"b5213e6\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0114dc5 e-con-full e-flex e-con e-parent\" data-id=\"0114dc5\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8f8a45a elementor-widget elementor-widget-image\" data-id=\"8f8a45a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1068\" height=\"575\" src=\"https:\/\/wordpress.dockhost.synology.me\/wp-content\/uploads\/2024\/01\/diagram-RESP-Transactions-en.jpg\" class=\"attachment-full size-full wp-image-937\" alt=\"\" srcset=\"https:\/\/wordpress.dockhost.synology.me\/wp-content\/uploads\/2024\/01\/diagram-RESP-Transactions-en.jpg 1068w, https:\/\/wordpress.dockhost.synology.me\/wp-content\/uploads\/2024\/01\/diagram-RESP-Transactions-en-300x162.jpg 300w, https:\/\/wordpress.dockhost.synology.me\/wp-content\/uploads\/2024\/01\/diagram-RESP-Transactions-en-1024x551.jpg 1024w, https:\/\/wordpress.dockhost.synology.me\/wp-content\/uploads\/2024\/01\/diagram-RESP-Transactions-en-768x413.jpg 768w\" sizes=\"(max-width: 1068px) 100vw, 1068px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2457bb elementor-widget elementor-widget-eael-adv-tabs\" data-id=\"b2457bb\" data-element_type=\"widget\" data-widget_type=\"eael-adv-tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div data-scroll-on-click=\"no\" data-scroll-speed=\"300\" id=\"eael-advance-tabs-b2457bb\" class=\"eael-advance-tabs eael-tabs-horizontal eael-tab-auto-active \" data-tabid=\"b2457bb\">\n            <div class=\"eael-tabs-nav\">\n                <ul class=\"eael-tab-inline-icon\" role=\"tablist\">\n                                            <li id=\"contributions\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"contributions-tab\" aria-expanded=\"false\">\n                            \n                                                                <svg class=\"e-font-icon-svg e-fas-people-carry\" viewBox=\"0 0 640 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M128 96c26.5 0 48-21.5 48-48S154.5 0 128 0 80 21.5 80 48s21.5 48 48 48zm384 0c26.5 0 48-21.5 48-48S538.5 0 512 0s-48 21.5-48 48 21.5 48 48 48zm125.7 372.1l-44-110-41.1 46.4-2 18.2 27.7 69.2c5 12.5 17 20.1 29.7 20.1 4 0 8-.7 11.9-2.3 16.4-6.6 24.4-25.2 17.8-41.6zm-34.2-209.8L585 178.1c-4.6-20-18.6-36.8-37.5-44.9-18.5-8-39-6.7-56.1 3.3-22.7 13.4-39.7 34.5-48.1 59.4L432 229.8 416 240v-96c0-8.8-7.2-16-16-16H240c-8.8 0-16 7.2-16 16v96l-16.1-10.2-11.3-33.9c-8.3-25-25.4-46-48.1-59.4-17.2-10-37.6-11.3-56.1-3.3-18.9 8.1-32.9 24.9-37.5 44.9l-18.4 80.2c-4.6 20 .7 41.2 14.4 56.7l67.2 75.9 10.1 92.6C130 499.8 143.8 512 160 512c1.2 0 2.3-.1 3.5-.2 17.6-1.9 30.2-17.7 28.3-35.3l-10.1-92.8c-1.5-13-6.9-25.1-15.6-35l-43.3-49 17.6-70.3 6.8 20.4c4.1 12.5 11.9 23.4 24.5 32.6l51.1 32.5c4.6 2.9 12.1 4.6 17.2 5h160c5.1-.4 12.6-2.1 17.2-5l51.1-32.5c12.6-9.2 20.4-20 24.5-32.6l6.8-20.4 17.6 70.3-43.3 49c-8.7 9.9-14.1 22-15.6 35l-10.1 92.8c-1.9 17.6 10.8 33.4 28.3 35.3 1.2.1 2.3.2 3.5.2 16.1 0 30-12.1 31.8-28.5l10.1-92.6 67.2-75.9c13.6-15.5 19-36.7 14.4-56.7zM46.3 358.1l-44 110c-6.6 16.4 1.4 35 17.8 41.6 16.8 6.6 35.1-1.7 41.6-17.8l27.7-69.2-2-18.2-41.1-46.4z\"><\/path><\/svg>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Contributions<\/span>                            \n                                                    <\/li>\n                                            <li id=\"grants\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"grants-tab\" aria-expanded=\"false\">\n                            \n                                                                <svg class=\"e-font-icon-svg e-fas-donate\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 416c114.9 0 208-93.1 208-208S370.9 0 256 0 48 93.1 48 208s93.1 208 208 208zM233.8 97.4V80.6c0-9.2 7.4-16.6 16.6-16.6h11.1c9.2 0 16.6 7.4 16.6 16.6v17c15.5.8 30.5 6.1 43 15.4 5.6 4.1 6.2 12.3 1.2 17.1L306 145.6c-3.8 3.7-9.5 3.8-14 1-5.4-3.4-11.4-5.1-17.8-5.1h-38.9c-9 0-16.3 8.2-16.3 18.3 0 8.2 5 15.5 12.1 17.6l62.3 18.7c25.7 7.7 43.7 32.4 43.7 60.1 0 34-26.4 61.5-59.1 62.4v16.8c0 9.2-7.4 16.6-16.6 16.6h-11.1c-9.2 0-16.6-7.4-16.6-16.6v-17c-15.5-.8-30.5-6.1-43-15.4-5.6-4.1-6.2-12.3-1.2-17.1l16.3-15.5c3.8-3.7 9.5-3.8 14-1 5.4 3.4 11.4 5.1 17.8 5.1h38.9c9 0 16.3-8.2 16.3-18.3 0-8.2-5-15.5-12.1-17.6l-62.3-18.7c-25.7-7.7-43.7-32.4-43.7-60.1.1-34 26.4-61.5 59.1-62.4zM480 352h-32.5c-19.6 26-44.6 47.7-73 64h63.8c5.3 0 9.6 3.6 9.6 8v16c0 4.4-4.3 8-9.6 8H73.6c-5.3 0-9.6-3.6-9.6-8v-16c0-4.4 4.3-8 9.6-8h63.8c-28.4-16.3-53.3-38-73-64H32c-17.7 0-32 14.3-32 32v96c0 17.7 14.3 32 32 32h448c17.7 0 32-14.3 32-32v-96c0-17.7-14.3-32-32-32z\"><\/path><\/svg>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Grants<\/span>                            \n                                                    <\/li>\n                                            <li id=\"withdrawals\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"withdrawals-tab\" aria-expanded=\"false\">\n                            \n                                                                <svg class=\"e-font-icon-svg e-fas-child\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M120 72c0-39.765 32.235-72 72-72s72 32.235 72 72c0 39.764-32.235 72-72 72s-72-32.236-72-72zm254.627 1.373c-12.496-12.497-32.758-12.497-45.254 0L242.745 160H141.254L54.627 73.373c-12.496-12.497-32.758-12.497-45.254 0-12.497 12.497-12.497 32.758 0 45.255L104 213.254V480c0 17.673 14.327 32 32 32h16c17.673 0 32-14.327 32-32V368h16v112c0 17.673 14.327 32 32 32h16c17.673 0 32-14.327 32-32V213.254l94.627-94.627c12.497-12.497 12.497-32.757 0-45.254z\"><\/path><\/svg>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Withdrawals<\/span>                            \n                                                    <\/li>\n                                            <li id=\"plantermination\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"plantermination-tab\" aria-expanded=\"false\">\n                            \n                                                                <svg class=\"e-font-icon-svg e-fas-file-contract\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224 136V0H24C10.7 0 0 10.7 0 24v464c0 13.3 10.7 24 24 24h336c13.3 0 24-10.7 24-24V160H248c-13.2 0-24-10.8-24-24zM64 72c0-4.42 3.58-8 8-8h80c4.42 0 8 3.58 8 8v16c0 4.42-3.58 8-8 8H72c-4.42 0-8-3.58-8-8V72zm0 64c0-4.42 3.58-8 8-8h80c4.42 0 8 3.58 8 8v16c0 4.42-3.58 8-8 8H72c-4.42 0-8-3.58-8-8v-16zm192.81 248H304c8.84 0 16 7.16 16 16s-7.16 16-16 16h-47.19c-16.45 0-31.27-9.14-38.64-23.86-2.95-5.92-8.09-6.52-10.17-6.52s-7.22.59-10.02 6.19l-7.67 15.34a15.986 15.986 0 0 1-14.31 8.84c-.38 0-.75-.02-1.14-.05-6.45-.45-12-4.75-14.03-10.89L144 354.59l-10.61 31.88c-5.89 17.66-22.38 29.53-41 29.53H80c-8.84 0-16-7.16-16-16s7.16-16 16-16h12.39c4.83 0 9.11-3.08 10.64-7.66l18.19-54.64c3.3-9.81 12.44-16.41 22.78-16.41s19.48 6.59 22.77 16.41l13.88 41.64c19.77-16.19 54.05-9.7 66 14.16 2.02 4.06 5.96 6.5 10.16 6.5zM377 105L279.1 7c-4.5-4.5-10.6-7-17-7H256v128h128v-6.1c0-6.3-2.5-12.4-7-16.9z\"><\/path><\/svg>                                                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Plan Termination<\/span>                            \n                                                    <\/li>\n                                    <\/ul>\n            <\/div>\n            \n            <div class=\"eael-tabs-content\">\n\t\t        \n                    <div id=\"contributions-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"contributions-tab\">\n\t\t\t\t        <style>.elementor-19 .elementor-element.elementor-element-4da9abdc{--display:flex;}.elementor-19 .elementor-element.elementor-element-1ee1330e{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;border-style:none;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-19 .elementor-element.elementor-element-5e57d364 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"19\" class=\"elementor elementor-19\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4da9abdc e-flex e-con-boxed e-con e-parent\" data-id=\"4da9abdc\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-60f74cdd elementor-widget elementor-widget-heading\" data-id=\"60f74cdd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Contributions<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e2db53a elementor-widget elementor-widget-text-editor\" data-id=\"6e2db53a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A subscriber can make a contribution for a beneficiary under the plan if the beneficiary is a resident in Canada and the beneficiary\u2019s SIN has been provided to the promoter of the plan.<\/p><p>Contributions to an RESP are not deductible from the subscriber\u2019s income. Control of the contributions remains with the subscriber and may be withdrawn tax-free at any time. Note that a withdrawal may require repayment of government incentives and may result in the beneficiary being ineligible for additional incentives.<\/p><p>The subscriber is responsible for making sure that the contribution limits are not exceeded.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1ee1330e e-flex e-con-boxed e-con e-parent\" data-id=\"1ee1330e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5e57d364 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"5e57d364\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-5e57d364\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"5e57d364\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"what-are-the-contribution-limits\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1581\"><span class=\"eael-accordion-tab-title\">What are the Contribution Limits?<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1581\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"what-are-the-contribution-limits\"><p>There is a lifetime contribution limit of $50,000 that can be contributed to all RESPs for a designated beneficiary. Since 2007, There is no annual limit for contributions to RESPs.<\/p><p>Government grants and incentives made to an RESP under the\u00a0<em>Canada Education Savings Act<\/em>\u00a0or under a designated provincial program are not considered part of the lifetime limit.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"what-is-the-time-limit-for-contributions\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1582\"><span class=\"eael-accordion-tab-title\">What is the Time Limit for Contributions?<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1582\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"what-is-the-time-limit-for-contributions\"><p>The final contribution must be made by the end of the 31<sup>st<\/sup> year after the year the plan is entered into, or earlier if amounts have been transferred from an existing RESP. In addition, for a family plan, the final contribution must be before the beneficiary\u2019s 31<sup>st<\/sup> birthday.<\/p><p>For a specified plan, no contributions (except transfers from another RESP) may be made to the plan after the 35<sup>th<\/sup> year following the year the plan was entered into, and the plan must be terminated by the end of the 40<sup>th<\/sup> year after the year the plan was opened.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"what-are-the-tax-consequences-of-an-overcontribution\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1583\"><span class=\"eael-accordion-tab-title\">What are the Tax Consequences of an Overcontribution?<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1583\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"what-are-the-tax-consequences-of-an-overcontribution\"><p>An excess contribution occurs at the end of a month when the total of all contributions made by all subscribers to all RESPs for a beneficiary is more than the lifetime limit ($50,000) for that beneficiary.<\/p><p>Each subscriber for that beneficiary is liable to pay a 1% per-month tax on the subscriber\u2019s share of the excess contribution that\u2019s not withdrawn by the end of the month. The tax is payable within 90 days after the end of the year in which There is an excess contribution. An excess contribution exists until it is withdrawn.<\/p><p>Subscribers have to file CRA Form\u00a0<a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/forms-publications\/forms\/t1e-ovp.html\">T1E-OVP<\/a>,\u00a0<em>Individual Income Tax Return for RESP Excess Contributions<\/em>, to calculate the amount of tax you have to pay on your share of the excess contribution for a year.<\/p><p><em><strong>Note: The amount subject to tax can be reduced by withdrawing the excess contributions. However, in determining whether the lifetime limit has been exceeded, the withdrawn amounts are included as contributions for the beneficiary even though they\u2019ve been withdrawn.<\/strong><\/em><\/p><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"grants-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"grants-tab\">\n\t\t\t\t        <style>.elementor-21 .elementor-element.elementor-element-244f1b1b{--display:flex;}.elementor-21 .elementor-element.elementor-element-51b42ea3{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;color:#333;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;border-style:none;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-21 .elementor-element.elementor-element-61111640 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"21\" class=\"elementor elementor-21\">\n\t\t\t\t<div class=\"elementor-element elementor-element-244f1b1b e-con-full e-flex e-con e-parent\" data-id=\"244f1b1b\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3a07b61e elementor-widget elementor-widget-heading\" data-id=\"3a07b61e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Government Grants &amp; Incentives<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1324e028 elementor-widget elementor-widget-text-editor\" data-id=\"1324e028\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Grants and incentives are available from the Government of Canada as well as some provincial governments to assist and encourage parents or guardians to plan and save for their children\u2019s post\u2011secondary education.<\/p><p><em><strong>Note: Not all plans support all government programs. Check with the promoter for the incentives that are offered with their RESP.<\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-51b42ea3 e-flex e-con-boxed e-con e-parent\" data-id=\"51b42ea3\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-61111640 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"61111640\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-61111640\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"61111640\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"federal-incentives\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1621\"><span class=\"eael-accordion-tab-title\">Federal Incentives<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1621\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"federal-incentives\"><style>.elementor-320 .elementor-element.elementor-element-1d15d94c{--display:flex;}.elementor-320 .elementor-element.elementor-element-75184a59{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-320 .elementor-element.elementor-element-39b92f59 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"320\" class=\"elementor elementor-320\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d15d94c e-con-full e-flex e-con e-parent\" data-id=\"1d15d94c\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-450c94a elementor-widget elementor-widget-text-editor\" data-id=\"450c94a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The federal government provides incentives under the Basic and Additional Canada Education Savings Grant and Canada Learning Bond programs. These programs are administered by Employment and Social Development Canada (ESDC). You must apply for each of these separately.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-75184a59 e-con-full e-flex e-con e-parent\" data-id=\"75184a59\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-39b92f59 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"39b92f59\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-39b92f59\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"39b92f59\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"canada-education-savings-grants-cesg\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-9681\"><span class=\"eael-accordion-tab-title\">Canada Education Savings Grants (CESG)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-9681\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"canada-education-savings-grants-cesg\"><style>.elementor-318 .elementor-element.elementor-element-6b952959{--display:flex;}.elementor-318 .elementor-element.elementor-element-2fe62f0c{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-318 .elementor-element.elementor-element-558ca0cf .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"318\" class=\"elementor elementor-318\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b952959 e-flex e-con-boxed e-con e-parent\" data-id=\"6b952959\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-80819dc elementor-widget elementor-widget-heading\" data-id=\"80819dc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Canada Education Savings Grant (CESG)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7666000d elementor-widget elementor-widget-text-editor\" data-id=\"7666000d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Canada Education Savings Grant, or CESG, provides up to a lifetime maximum of $7,200 to an RESP per child.\u00a0 Contributions must be made to the RESP to receive the CESG.\u00a0 Payment is made in the month following the month that the contribution is made.<\/p><p>The CESG has two parts:<\/p><ul><li><strong>Basic Canada Education Savings Grant<\/strong> \u2013 provides 20% on every dollar of the first $2,500, up to $500, on contributions to the child\u2019s RESP each year regardless of family income, capped at the lifetime maximum.<\/li><\/ul><ul><li><strong>Additional Canada Education Savings Grant<\/strong> \u2013 depending on the primary caregiver\u2019s net family income, the child\u2019s RESP could receive an extra 10% or 20% on every dollar of the first $500 you contribute to the child\u2019s RESP each year.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2fe62f0c e-flex e-con-boxed e-con e-parent\" data-id=\"2fe62f0c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-558ca0cf elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"558ca0cf\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-558ca0cf\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"558ca0cf\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"carry-forward-room\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1431\"><span class=\"eael-accordion-tab-title\">Carry Forward Room<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1431\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"carry-forward-room\"><p>The CESG is available only on the first $2,500 of contributions per year per child (to a maximum of $500). The grant room accumulates from birth until the end of the year that the child turns 17\u2014even if the child is not a beneficiary of an RESP. Unused basic CESG amounts for the current year are carried forward. If you have available carry forward grant room, the CESG is available on up to $5,000 in contributions per year (to a maximum of $1,000).<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"eligibility\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1432\"><span class=\"eael-accordion-tab-title\">Eligibility<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1432\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"eligibility\"><p>All children resident in Canada (up to the end of the calendar year in which they turn 17), and have a Social Insurance Number (SIN), are eligible to receive CESG from the federal government for their post-secondary education if an RESP has been opened for them. \u00a0Adults are not eligible for these grants.<\/p><p>However, to receive the CESG after age 15, one of the following contributions must have been made to the RESP (and not withdrawn) by December 31 of the calendar year in which the child turns 15:<\/p><ul><li>Total contributions of at least $2,000 in total contributions to all RESPs on behalf of the child<\/li><li>Contributions of at least $100 a year or more in any four previous years to an RESP on behalf of the child. The contributions do not need to be consecutive years.<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"canadalearningbond\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-9682\"><span class=\"eael-accordion-tab-title\">Canada Learning Bond (CLB)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-9682\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"canadalearningbond\"><style>.elementor-316 .elementor-element.elementor-element-37e3aff6{--display:flex;}.elementor-316 .elementor-element.elementor-element-2399ffb3{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-316 .elementor-element.elementor-element-f64b1bc .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"316\" class=\"elementor elementor-316\">\n\t\t\t\t<div class=\"elementor-element elementor-element-37e3aff6 e-con-full e-flex e-con e-parent\" data-id=\"37e3aff6\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-375bebd9 elementor-widget elementor-widget-heading\" data-id=\"375bebd9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Canada Learning Bond (CLB)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-197d184 elementor-widget elementor-widget-text-editor\" data-id=\"197d184\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Canada Learning Bond, or CLB, is an additional federal government incentive of up to $2,000 lifetime administered by Employment and Social Development Canada (ESDC), to help modest-income families set up RESPs and save for children born after 2003. \u00a0The CLB will be deposited directly into the RESP. \u00a0No contributions to the RESP are needed to obtain the CLB.<\/p><p>The initial grant is $500 plus an additional $25 to cover the administrative cost of opening an RESP. \u00a0Thereafter, for each year of eligibility, the grant is $100 per year until the child reaches age 15.<\/p><p>The CLB is retroactive. The CLB amounts accumulate each year of eligibility until December 31 of the year in which the beneficiary turns 15. The primary caregiver can request the CLB for an eligible child until the day before they turn 18. Once the child turns 18, they could also become the subscriber of their own RESP and request the CLB for themselves, until the day before they turn 21.<\/p><p>If the beneficiary does not pursue post-secondary education, the CLB is returned to the government.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2399ffb3 e-con-full e-flex e-con e-parent\" data-id=\"2399ffb3\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f64b1bc elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"f64b1bc\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-f64b1bc\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"f64b1bc\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"eligibility\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-2581\"><span class=\"eael-accordion-tab-title\">Eligibility<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-2581\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"eligibility\"><ul><li>Available to individual, sibling, or family plans<\/li><li>Beneficiary(s) must meet the following conditions:<ul><li>born January 1, 2004 or later<\/li><li>have a birth certificate<\/li><li>have a social insurance number (SIN)<\/li><li>be a Canadian resident<\/li><li>be a beneficiary under an RESP<\/li><\/ul><\/li><li>Eligibility for the CLB is based on the adjusted family income of the primary caregiver. The threshold is set by the government and is indexed annually.<\/li><li>As well, the primary caregiver of the beneficiary must:<ul><li>have filed income tax returns for each year they wish to request the CLB for the beneficiary<\/li><li>be eligible to receive the Canada Child Benefit (CCB)<\/li><\/ul><\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"provincial-education-savings-incentives\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1622\"><span class=\"eael-accordion-tab-title\">Provincial Education Savings Incentives<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1622\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"provincial-education-savings-incentives\"><style>.elementor-328 .elementor-element.elementor-element-2b99d78d{--display:flex;}.elementor-328 .elementor-element.elementor-element-986f1a2{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-328 .elementor-element.elementor-element-664f3428 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"328\" class=\"elementor elementor-328\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b99d78d e-flex e-con-boxed e-con e-parent\" data-id=\"2b99d78d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6c1d9498 elementor-widget elementor-widget-text-editor\" data-id=\"6c1d9498\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Some provinces have also introduced incentive programs to assist families in saving for their children\u2019s post-secondary education.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-986f1a2 e-flex e-con-boxed e-con e-parent\" data-id=\"986f1a2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-664f3428 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"664f3428\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-664f3428\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"664f3428\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"alberta-centennial-education-savings-aces-plan\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1711\"><span class=\"eael-accordion-tab-title\">Alberta Centennial Education Savings (ACES) Plan<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1711\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"alberta-centennial-education-savings-aces-plan\"><style>.elementor-330 .elementor-element.elementor-element-263ff7dd{--display:flex;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"330\" class=\"elementor elementor-330\">\n\t\t\t\t<div class=\"elementor-element elementor-element-263ff7dd e-flex e-con-boxed e-con e-parent\" data-id=\"263ff7dd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-888401 elementor-widget elementor-widget-heading\" data-id=\"888401\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Alberta Centennial Education Savings (ACES) Plan<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba397c6 elementor-widget elementor-widget-text-editor\" data-id=\"ba397c6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #993300;\"><strong>NOTE: On March 26, 2015, the Government of Alberta announced the closing of the Alberta Centennial Education Savings (ACES) Plan.\u00a0 Promoters must convert all ACES held in RESPs into accumulated income on January 1, 2016.<\/strong><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"british-columbia-training-and-education-savings-grant-bctesg\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1712\"><span class=\"eael-accordion-tab-title\">British Columbia Training and Education Savings Grant (BCTESG)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1712\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"british-columbia-training-and-education-savings-grant-bctesg\"><style>.elementor-326 .elementor-element.elementor-element-2123fbd2{--display:flex;}.elementor-326 .elementor-element.elementor-element-7441d3e9{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-326 .elementor-element.elementor-element-52b4504b .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"326\" class=\"elementor elementor-326\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2123fbd2 e-flex e-con-boxed e-con e-parent\" data-id=\"2123fbd2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-28663ab7 elementor-widget elementor-widget-heading\" data-id=\"28663ab7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">British Columbia Training and Education Savings Grant (BCTESG)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-287092a1 elementor-widget elementor-widget-text-editor\" data-id=\"287092a1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The British Columbia government will contribute one time payment of $1,200 to eligible RESP through the B.C. Training and Education Savings Grant (BCTESG). \u00a0The BCTESG requires no matching or additional contributions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7441d3e9 e-flex e-con-boxed e-con e-parent\" data-id=\"7441d3e9\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52b4504b elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"52b4504b\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-52b4504b\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"52b4504b\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"eligibility\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1381\"><span class=\"eael-accordion-tab-title\">Eligibility<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1381\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"eligibility\"><ul><li>Available to individual or family plans.<\/li><li>Beneficiary must meet the following conditions:<ul><li>parent and child must be residents of B.C.<\/li><li>child must have been born in 2006 or later<\/li><li>child must have a social insurance number (SIN)<\/li><li>child must be named as beneficiary of an RESP with a participating financial institution<\/li><li>child may apply for the grant between their 6<sup>th<\/sup> birthday and the day before they turn 9<\/li><\/ul><\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"quebec-education-savings-incentive-qesi\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1713\"><span class=\"eael-accordion-tab-title\">Quebec Education Savings Incentive (QESI)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1713\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"quebec-education-savings-incentive-qesi\"><style>.elementor-324 .elementor-element.elementor-element-2eb72cec{--display:flex;}.elementor-324 .elementor-element.elementor-element-54bd054e{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-324 .elementor-element.elementor-element-3c51dd9e .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"324\" class=\"elementor elementor-324\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2eb72cec e-flex e-con-boxed e-con e-parent\" data-id=\"2eb72cec\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42cd7bf8 elementor-widget elementor-widget-heading\" data-id=\"42cd7bf8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Quebec Education Savings Incentive (QESI)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-196669b elementor-widget elementor-widget-text-editor\" data-id=\"196669b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Quebec Education Savings Incentive (QESI) is a tax measure that encourages Qu\u00e9bec families to start saving early for the post-secondary education of their children and grandchildren. The lifetime maximum that can be received from the QESI is $3,600 for eligible beneficiaries.\n<\/p>\n<p>This measure consists of a refundable tax credit. The credit is paid directly into a registered education savings plan (RESP) opened with an RESP provider that offers the QESI.\u00a0 Payment is made in the year following the year of the contribution.\n<\/p>\n<p>The QESI has two parts:<\/p>\n<ul>\n \t<li><strong>Basic Quebec Education Savings Incentive<\/strong> \u2013 provides 10% on every dollar of the first $2,500, up to $250, on contributions to the child\u2019s RESP each year regardless of family income, capped at the lifetime maximum.<\/li>\n<\/ul>\n<ul>\n \t<li><strong>Additional Quebec Education Savings Incentive<\/strong> \u2013 an amount of up to $50 per year, calculated based on family income of the beneficiary, may be added to the basic amount.<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-54bd054e e-flex e-con-boxed e-con e-parent\" data-id=\"54bd054e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3c51dd9e elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"3c51dd9e\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-3c51dd9e\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"3c51dd9e\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"carry-forward-grant-room\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1011\"><span class=\"eael-accordion-tab-title\">Carry Forward Grant Room<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1011\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"carry-forward-grant-room\"><p>Since 2008, accumulated rights from previous years can increase the basic amount, up to an additional $250 per year. \u00a0However, the basic amount cannot exceed $500 per year.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"eligibility\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1012\"><span class=\"eael-accordion-tab-title\">Eligibility<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1012\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"eligibility\"><p>In order for the Qu\u00e9bec education savings incentive (QESI) to be paid into a child&#8217;s RESP for a given taxation year, the child must meet all of the following conditions:<\/p><ul><li>be less than 18 years old<\/li><li>have a social insurance number (SIN)<\/li><li>be resident in Qu\u00e9bec on December 31 of the taxation year<\/li><li>be designated a beneficiary of the concerned registered education savings plan (RESP)<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"saskatchewan-advantage-grant-for-education-savings-sages\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"4\" aria-controls=\"elementor-tab-content-1714\"><span class=\"eael-accordion-tab-title\">Saskatchewan Advantage Grant for Education Savings (SAGES)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1714\" class=\"eael-accordion-content clearfix\" data-tab=\"4\" aria-labelledby=\"saskatchewan-advantage-grant-for-education-savings-sages\"><style>.elementor-322 .elementor-element.elementor-element-588c2151{--display:flex;}.elementor-322 .elementor-element.elementor-element-52225d85{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-322 .elementor-element.elementor-element-3f67e36 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"322\" class=\"elementor elementor-322\">\n\t\t\t\t<div class=\"elementor-element elementor-element-588c2151 e-flex e-con-boxed e-con e-parent\" data-id=\"588c2151\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cf30acc elementor-widget elementor-widget-heading\" data-id=\"cf30acc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Saskatchewan Advantage Grant for Education Savings (SAGES)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f5cd684 elementor-widget elementor-widget-text-editor\" data-id=\"5f5cd684\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #993300;\"><strong>NOTE: The Saskatchewan Advantage Grant for Education Savings (SAGES) program has been suspended as of January 1<sup>st<\/sup>, 2018, and is being wound down.\u00a0 Promoters must convert all SAGES held in RESPs into accumulated income on September 1<sup>st<\/sup>, 2023.<\/strong><\/span><\/p><p><span style=\"color: #000000;\">In 2013, the Government of Saskatchewan introduced the Saskatchewan Advantage Grant for Education Savings (SAGES) administered in partnership with Employment and Social Development Canada (ESDC).\u00a0<\/span><\/p><p>SAGES is an education savings incentive that is paid into an eligible RESP at a rate of 10% of RESP contributions, up to $250 per beneficiary for each eligible year, until the end of the calendar year in which a beneficiary turns 17. Total SAGES payments per beneficiary could reach $4,500 if the beneficiary is eligible from birth until age 17.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-52225d85 e-flex e-con-boxed e-con e-parent\" data-id=\"52225d85\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3f67e36 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"3f67e36\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-3f67e36\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"3f67e36\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"carry-forward-grant-room\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-6641\"><span class=\"eael-accordion-tab-title\">Carry Forward Grant Room<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-6641\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"carry-forward-grant-room\"><p>Accumulated rights from previous years can increase the basic amount, up to an additional $250 per year. \u00a0However, the annual amount cannot exceed $500 per year.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"eligibility\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-6642\"><span class=\"eael-accordion-tab-title\">Eligibility<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-6642\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"eligibility\"><p>In order for the Saskatchewan Advantage Grant for Education Savings (SAGES) to be paid into a child&#8217;s RESP for a given taxation year, the child must meet all of the following conditions:<\/p><ul><li>RESP contribution made on or before December 31 of the year in which the beneficiary turns 17<\/li><li>have a social insurance number (SIN)<\/li><li>be resident of Saskatchewan when the RESP contribution was made<\/li><\/ul><p>RESP contributions made during the calendar year in which the beneficiary turns\u00a016 or 17\u00a0years of age must satisfy one of the following conditions to be eligible for SAGES:<\/p><ul><li>a subscriber makes a minimum of $100 in annual RESP contributions in respect of the beneficiary, and they are not withdrawn. This can be done in any 4 years (consecutive or not), by December 31 in the year the beneficiary turned 15, or<\/li><li>a subscriber makes a minimum of $2,000 in RESP contributions in respect of the beneficiary, and they are not withdrawn. This has to be done by December 31\u00a0in the year the beneficiary turned\u00a015.<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"withdrawals-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"withdrawals-tab\">\n\t\t\t\t        <style>.elementor-17 .elementor-element.elementor-element-76fdab0c{--display:flex;}.elementor-17 .elementor-element.elementor-element-327a8bad{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;color:#333;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;border-style:none;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-17 .elementor-element.elementor-element-4073c17f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"17\" class=\"elementor elementor-17\">\n\t\t\t\t<div class=\"elementor-element elementor-element-76fdab0c e-flex e-con-boxed e-con e-parent\" data-id=\"76fdab0c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1c1ff7 elementor-widget elementor-widget-heading\" data-id=\"1c1ff7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Payments &amp; Withdrawals<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2201d0bf elementor-widget elementor-widget-text-editor\" data-id=\"2201d0bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The promoter can make the following types of withdrawals:<\/p><ul><li>Payments to beneficiary or subscriber:<ul><li>When the beneficiary is enrolled in a qualifying post-secondary educational program:<ul><li>educational assistance payment (EAP)<\/li><li>post-secondary education (PSE) withdrawal<\/li><\/ul><\/li><li>When the beneficiary does not enroll in post-secondary education:<ul><li>refund of contributions to the subscriber<\/li><li>accumulated income payment (AIP)<\/li><li>repayment of amounts under the Canada Education Savings Act or under a designated provincial program<\/li><\/ul><\/li><\/ul><\/li><li>Transfers:<ul><li>transfer from one RESP to another RESP<\/li><li>transfer RESP investment income to an RDSP<\/li><\/ul><\/li><li>Payment to a designated educational institution in Canada<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-327a8bad e-flex e-con-boxed e-con e-parent\" data-id=\"327a8bad\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4073c17f elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"4073c17f\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-4073c17f\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"4073c17f\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"payments-to-beneficiary-or-subscriber\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1081\"><span class=\"eael-accordion-tab-title\">Payments to beneficiary or subscriber<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1081\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"payments-to-beneficiary-or-subscriber\"><style>.elementor-342 .elementor-element.elementor-element-2935f3dd{--display:flex;}.elementor-342 .elementor-element.elementor-element-4f5d351c{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-342 .elementor-element.elementor-element-31f23e4d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"342\" class=\"elementor elementor-342\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2935f3dd e-flex e-con-boxed e-con e-parent\" data-id=\"2935f3dd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b9ed1a elementor-widget elementor-widget-shortcode\" data-id=\"2b9ed1a\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-tbl-payment-types\" class=\"tablepress tablepress-id-tbl-payment-types tbody-has-connected-cells\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Scenario<\/th><th class=\"column-2\">Withdrawal Type<\/th><th class=\"column-3\">Source<\/th><th class=\"column-4\">Taxation<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td rowspan=\"2\" class=\"column-1\"><strong>Student beneficiary enrolls in post\u2011secondary education<\/strong><\/td><td class=\"column-2\">Post-secondary education (PSE) contribution withdrawal<\/td><td class=\"column-3\">RESP contributions<\/td><td class=\"column-4\">Returned tax-free to subscriber<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-2\">Educational assistance payment (EAP)<\/td><td class=\"column-3\">RESP earnings, CESG, and other incentives<\/td><td class=\"column-4\">Taxable to student beneficiary at the student\u2019s marginal tax rate<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td rowspan=\"2\" class=\"column-1\"><strong>Student beneficiary does not enroll in post-secondary education<\/strong><\/td><td class=\"column-2\">Contribution withdrawal (CW)<\/td><td class=\"column-3\">RESP contributions<\/td><td class=\"column-4\">Returned tax-free to subscriber<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-2\">Accumulated income payment (AIP)<\/td><td class=\"column-3\">Earnings on contributions, grants, and incentives<\/td><td class=\"column-4\">Paid to subscriber and taxable at the subscriber\u2019s marginal tax rate, plus an additional 20% tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-tbl-payment-types from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1805fa1c elementor-widget elementor-widget-text-editor\" data-id=\"1805fa1c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>CESG<\/strong>: unused grants returned to government; no tax consequences<\/p><p><strong>CLB<\/strong>: returned to government; no tax consequences<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4f5d351c e-flex e-con-boxed e-con e-parent\" data-id=\"4f5d351c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-31f23e4d elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"31f23e4d\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-31f23e4d\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"31f23e4d\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"when-the-beneficiary-is-enrolled-in-a-qualifying-post-secondary-educational-program\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-8371\"><span class=\"eael-accordion-tab-title\">When the beneficiary is enrolled in a qualifying post-secondary educational program<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-8371\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"when-the-beneficiary-is-enrolled-in-a-qualifying-post-secondary-educational-program\"><style>.elementor-340 .elementor-element.elementor-element-3dc22e62{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-340 .elementor-element.elementor-element-e2f2661{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;color:#333;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-340 .elementor-element.elementor-element-1d42256f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"340\" class=\"elementor elementor-340\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3dc22e62 e-flex e-con-boxed e-con e-parent\" data-id=\"3dc22e62\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-600b5ed3 elementor-widget elementor-widget-text-editor\" data-id=\"600b5ed3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>An RESP offers two types of payment options for educational purposes based on the types of monies in the plan.<\/p><ul><li>Educational Assistance Payment (EAP) consisting of the government incentives as well as earnings on the investments and incentives<\/li><li>Post-secondary education (PSE) contribution withdrawal<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e2f2661 e-flex e-con-boxed e-con e-parent\" data-id=\"e2f2661\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d42256f elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"1d42256f\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-1d42256f\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"1d42256f\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"education-assistance-payments-eap\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-4901\"><span class=\"eael-accordion-tab-title\">Education Assistance Payments (EAP)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-4901\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"education-assistance-payments-eap\"><style>.elementor-338 .elementor-element.elementor-element-54938456{--display:flex;}.elementor-338 .elementor-element.elementor-element-11011b7c{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-338 .elementor-element.elementor-element-2b6b8e3d .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"338\" class=\"elementor elementor-338\">\n\t\t\t\t<div class=\"elementor-element elementor-element-54938456 e-flex e-con-boxed e-con e-parent\" data-id=\"54938456\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-47c4a234 elementor-widget elementor-widget-text-editor\" data-id=\"47c4a234\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>An EAP is the amount paid to or for a beneficiary (the student) from an RESP to help finance the cost of post-secondary education.<\/p><p>An EAP consists of government grants, incentives, and the earnings on the investments and incentives.<\/p><p>The student includes EAPs as income on the tax return for the year the student receives them.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-11011b7c e-flex e-con-boxed e-con e-parent\" data-id=\"11011b7c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b6b8e3d elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"2b6b8e3d\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-2b6b8e3d\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"2b6b8e3d\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"qualifying-for-an-eap\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-7281\"><span class=\"eael-accordion-tab-title\">Qualifying for an EAP<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-7281\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"qualifying-for-an-eap\"><p>The promoter can only pay EAPs to or for a student if one of the following situations applies:<\/p><ul><li>The student is enrolled in a qualifying educational program. This includes students attending a post-secondary educational institution and those enrolled in distance education courses, such as correspondence courses, provided by such institutions.<\/li><li>The student has reached the age of 16 years and is enrolled in a specified educational program.<\/li><\/ul><p>A beneficiary may receive EAPs for up to six months after ceasing enrolment, provided that the payments would have qualified as EAPs if the payments had been made immediately before the student\u2019s enrolment ceased.<\/p><p>A <strong>qualifying educational program<\/strong> is an educational program at a post-secondary school level that lasts at least three consecutive weeks and requires a student to spend no less than 10 hours per week on courses or work in the program.<\/p><p>A <strong>specified educational program<\/strong> is a program at a post\u2011secondary school level that lasts at least three consecutive weeks and that requires a student to spend not less than 12 hours per month on courses in the program.<\/p><p>A <strong>post-secondary educational institution<\/strong> includes:<\/p><ul><li>a university, college, or other designated educational institution in Canada<\/li><li>an educational institution in Canada certified by ESDC as offering non-credit courses that develop or improve skills in an occupation<\/li><li>a university, college, or other educational institution outside Canada that has courses at the post-secondary school level at which the beneficiary was enrolled on a full\u2011time basis in a course of not less than three consecutive weeks.<\/li><\/ul><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"limit-on-eaps\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-7282\"><span class=\"eael-accordion-tab-title\">Limit on EAPs<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-7282\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"limit-on-eaps\"><table width=\"624\"><tbody><tr><td rowspan=\"2\" width=\"76\"><strong>Full-time<\/strong><\/td><td rowspan=\"2\" width=\"219\">Qualifying educational program<\/td><td width=\"208\">First 13 consecutive weeks<\/td><td width=\"121\">$8,000 maximum<\/td><\/tr><tr><td width=\"208\">After first 13 consecutive weeks<\/td><td width=\"121\">No limit<\/td><\/tr><tr><td width=\"76\"><strong>Part-time<\/strong><\/td><td width=\"219\">Specified educational program<\/td><td width=\"208\">Each 13-week period<\/td><td width=\"121\">$4,000 maximum<\/td><\/tr><\/tbody><\/table><p>If there is a 12-month period when the student is not enrolled in a qualifying educational program for 13 consecutive weeks, the $8,000 maximum applies again. \u00a0For studies in a specified educational program, the limit is $4,000, for the 13-week period, whether or not the student is enrolled in such a program throughout that 13-week period.<\/p><p>ESDC may, on a case-by-case basis, approve an EAP amount of more than the above limit if the cost of tuition plus related expenses for a particular program is substantially higher than the average.<\/p><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"A PSE withdrawal may be made by the subscriber when a beneficiary is eligible for an EAP and may be used for any purpose.  Note: This type of withdrawal of the subscriber\u2019s contributions while the beneficiary qualifies for an EAP does not incur a CESG clawback.  Subject to the terms and conditions of the RESP, a portion of the contributions withdrawn can be paid to the beneficiary to supplement the EAP. There is no limit on the dollar amount for a PSE withdrawal.\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-4902\"><span class=\"eael-accordion-tab-title\">Post-Secondary Education (PSE) Withdrawal<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-4902\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"A PSE withdrawal may be made by the subscriber when a beneficiary is eligible for an EAP and may be used for any purpose.  Note: This type of withdrawal of the subscriber\u2019s contributions while the beneficiary qualifies for an EAP does not incur a CESG clawback.  Subject to the terms and conditions of the RESP, a portion of the contributions withdrawn can be paid to the beneficiary to supplement the EAP. There is no limit on the dollar amount for a PSE withdrawal.\"><p>A PSE withdrawal may be made by the subscriber when a beneficiary is eligible for an EAP and may be used for any purpose.<\/p><p><em><strong>Note: This type of withdrawal of the subscriber\u2019s contributions while the beneficiary qualifies for an EAP does not incur a CESG clawback.<\/strong><\/em><\/p><p>Subject to the terms and conditions of the RESP, a portion of the contributions withdrawn can be paid to the beneficiary to supplement the EAP. There is no limit on the dollar amount for a PSE withdrawal.<\/p><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"when-beneficiary-does-not-enroll-in-post-secondary-education\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-8372\"><span class=\"eael-accordion-tab-title\">When beneficiary does not enroll in post-secondary education<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-8372\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"when-beneficiary-does-not-enroll-in-post-secondary-education\"><style>.elementor-334 .elementor-element.elementor-element-7a13814d{--display:flex;}.elementor-334 .elementor-element.elementor-element-3b064383{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;color:#333;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-334 .elementor-element.elementor-element-3843d1cb .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"334\" class=\"elementor elementor-334\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7a13814d e-flex e-con-boxed e-con e-parent\" data-id=\"7a13814d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-66b91c0d elementor-widget elementor-widget-text-editor\" data-id=\"66b91c0d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If the beneficiary does not enroll in a post-secondary educational program and if another beneficiary is not named, the terms of the RESP may offer options to withdraw the RESP property for non-education purposes.\n<ul>\n \t<li>Contributions can be returned tax-free to the subscriber at any time.<\/li>\n \t<li>Accumulated income payments that are taxable payments consisting of investment earnings may be paid, under specified conditions, to the subscriber.<\/li>\n \t<li>Amounts received under the Canada Education Savings Act or under a designated provincial program may need to be repaid to the applicable government.<\/li>\n<\/ul><\/p>\n<p>Tip: If the beneficiary does not enroll in a post-secondary educational program right away, you can also wait before withdrawing funds and terminating the plan. RESPs can remain open for 36 years (40 for a specified plan). The beneficiary may decide to enroll in post-secondary education at a later time.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3b064383 e-flex e-con-boxed e-con e-parent\" data-id=\"3b064383\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3843d1cb elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"3843d1cb\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-3843d1cb\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"3843d1cb\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"refund-of-contributions-to-the-subscriber\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-9431\"><span class=\"eael-accordion-tab-title\">Refund of Contributions to the Subscriber<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-9431\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"refund-of-contributions-to-the-subscriber\"><style>.elementor-3686 .elementor-element.elementor-element-0a08761{--display:flex;}.elementor-3686 .elementor-element.elementor-element-06d3199{font-size:14px;}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"3686\" class=\"elementor elementor-3686\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0a08761 e-flex e-con-boxed e-con e-parent\" data-id=\"0a08761\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c41532c elementor-widget elementor-widget-text-editor\" data-id=\"c41532c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tSubject to the terms and conditions of the RESP, the promoter can return contributions to you tax-free when the contract ends or at any time before.\n\nA refund of contributions may trigger repayments of some or all incentives that remain in the RESP. A CESG repayment is a portion of the assisted contributions (those qualifying for the basic and additional grants) up to and including the total CESG balance remaining in the plan; certain conditions may apply.<a href=\"#_ftn1\" name=\"_ftnref1\"><sup>[1]<\/sup><\/a> A repayment of provincial incentives that remain in the RESP may also be required.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-06d3199 elementor-widget elementor-widget-text-editor\" data-id=\"06d3199\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"#_ftnref1\" name=\"_ftn1\"><sup>[1]<\/sup><\/a> The withdrawal of assisted contributions from a RESP after March 22, 2004 will result in a beneficiary being ineligible to receive any CESG for the balance of the year and the next two years. A withdrawal of pre-1998 contributions will cause all beneficiaries under the plan to be ineligible for any CESG in the calendar year that the withdrawal was made and for the following two calendar years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"accumulated-income-payment-aip\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-9432\"><span class=\"eael-accordion-tab-title\">Accumulated Income Payment (AIP)<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-9432\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"accumulated-income-payment-aip\"><style>.elementor-336 .elementor-element.elementor-element-4dfd50a{--display:flex;}.elementor-336 .elementor-element.elementor-element-b56e859{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-336 .elementor-element.elementor-element-5b3338d9 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"336\" class=\"elementor elementor-336\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4dfd50a e-flex e-con-boxed e-con e-parent\" data-id=\"4dfd50a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-568e95d0 elementor-widget elementor-widget-text-editor\" data-id=\"568e95d0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>An AIP consists of earnings on contributions to the RESP and earnings on the CESG and other additional government incentives.\n<\/p>\n<p>It is important to carefully review the terms and conditions of any RESP, as the treatment of accumulated income varies.\n<\/p>\n<p>AIPs can be made to or for only one subscriber and cannot be made as a single joint payment to separate subscribers. When more than one individual is entitled to receive accumulated income payments from the plan, the payments must be made separately to each person.\n<\/p>\n<p>An RESP may allow for AIPs when the following conditions are met:\n<ul>\n \t<li>recipient must be a Canadian resident<\/li>\n \t<li>recipient must be a subscriber of the RESP<\/li>\n \t<li>any one of the following:\n<ul>\n \t<li>The RESP must have been in existence for at least 10 years, and the current and former beneficiaries must be at least 21 years of age and not eligible to receive an EAP.<\/li>\n \t<li>Each individual who was a beneficiary is deceased.<\/li>\n \t<li>The RESP is in its final year.<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/p>\n<p><em><strong>Note: The CRA may waive the age and 10 year maturity conditions, if it is reasonable to expect that a beneficiary under the RESP will not be able to pursue post-secondary education because the beneficiary suffers from a severe and prolonged mental impairment. Such requests have to be made by the RESP promoter in writing.<\/strong><\/em>\n<\/p>\n<p><em><strong>Note: AN RESP must be terminated by the end of February of the year after the year that the first AIP is paid.<\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b56e859 e-flex e-con-boxed e-con e-parent\" data-id=\"b56e859\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5b3338d9 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"5b3338d9\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-5b3338d9\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"5b3338d9\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"how-aips-are-taxed\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1531\"><span class=\"eael-accordion-tab-title\">How AIPs are Taxed<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1531\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"how-aips-are-taxed\"><p>The recipient has to include the AIP as income on the tax return for the year it is received. \u00a0An AIP is subject to two different taxes:<\/p><ul><li>the regular income tax, and<\/li><li>an additional tax of 20% (for residents of Quebec, 12% federal plus 8% provincial).<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"repayment-of-government-grants\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-9433\"><span class=\"eael-accordion-tab-title\">Repayment of Government Grants<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-9433\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"repayment-of-government-grants\"><p>Federal and provincial government grants can only be used to pay for post-secondary education. If they cannot be used for educational purposes, they must be returned to the government.<\/p><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"transfers\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1082\"><span class=\"eael-accordion-tab-title\">Transfers<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1082\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"transfers\"><style>.elementor-332 .elementor-element.elementor-element-6edac08e{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .eael-accordion-tab-title{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header:hover svg.fa-accordion-icon{fill:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .eael-accordion-tab-title{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-accordion-icon svg{color:#fff;fill:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-accordion-icon{fill:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-content{color:#333;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle, .elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header > .fa-toggle-svg{font-size:16px;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-332 .elementor-element.elementor-element-634e92a5 .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"332\" class=\"elementor elementor-332\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6edac08e e-flex e-con-boxed e-con e-parent\" data-id=\"6edac08e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-634e92a5 elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"634e92a5\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-634e92a5\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"634e92a5\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"transfer-between-resps\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1661\"><span class=\"eael-accordion-tab-title\">Transfer between RESPs<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1661\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"transfer-between-resps\"><p>Transfers of property between RESPs are generally not restricted.<\/p><p>Reducing the amount of AIPs subject to tax:<\/p><ul><li>An individual plan can be transferred to any other individual plan.<\/li><li>An RESP can be transferred to a plan with a different subscriber but the same beneficiary.<\/li><li>A family plan can be split into individual plans or individual plans can be combined into a family plan.<\/li><\/ul><p><strong><em>Note: A direct transfer cannot be made from an RESP that has made an AIP.<\/em><\/strong><\/p><p><em>Tip: The receiving plan must be registered with CRA before the funds are transferred. If not, the transferring plan will be considered as having been paid to the subscriber as an AIP.<\/em><\/p><p><strong><em>Note: Transfers can result in an excess contribution. This is because the contribution history from the transferring plan is also transferred to the receiving plan. Each contribution is treated as if it had been made into the receiving RESP; therefore, the contribution history is added to the receiving plan beneficiary\u2019s contribution history. If this combined contribution history exceeds the receiving plan beneficiary\u2019s lifetime limit, there could be an excess contribution. In addition, each subscriber under the transferring RESP is treated as a subscriber under the receiving RESP. This means that the subscriber is liable for any tax on excess contributions.<\/em><\/strong><\/p><p>Transfers from one RESP to another RESP can be made without resulting in any tax penalties in the following cases:<\/p><ul><li>There is a common beneficiary under the transferring plan and the plan receiving the transfer.<\/li><li>A beneficiary under the transferring plan is a sibling of a beneficiary under the receiving plan and one of these situations applies:<ul><li>the receiving plan allows more than one beneficiary under the plan<\/li><li>the beneficiary under the receiving plan was under 21 years of age at the time the receiving plan was entered.<\/li><\/ul><\/li><\/ul><p>The effective date of the plan where funds have been transferred, whether it is a partial or total transfer, will be the earlier of:<\/p><ul><li>the effective date of the plan the funds came from; and<\/li><li>the effective date of the plan the funds were transferred to.<\/li><\/ul><p><em><strong>Note: The effective date is relevant in determining when contributions and transfers to an RESP must end, when accumulated income payments can start and when the plan must be terminated.<\/strong><\/em><\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"transferring-resp-investment-income-to-an-rdsp\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1662\"><span class=\"eael-accordion-tab-title\">Transferring RESP investment income to an RDSP<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1662\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"transferring-resp-investment-income-to-an-rdsp\"><p>A subscriber of an RESP that allows AIPs and a holder of an RDSP may jointly elect in <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/forms-publications\/forms\/rc435.html\">form RC435<\/a> <em>Rollover from a Registered Education Savings Plan to a Registered Disability Savings Plan<\/em> to transfer an AIP under the RESP to the RDSP if, at the time of the election, the RESP beneficiary is also the beneficiary under the RDSP.<\/p><p>To qualify for an RESP rollover, the beneficiary must meet the existing age and residency requirements in relation to RDSP contributions. Also, one of the following conditions must be met:<\/p><ul><li>the beneficiary is, or will be, unable to pursue post-secondary education because of a severe and prolonged mental impairment<\/li><li>the RESP has been in existence for more than 35 years; or the RESP has been in existence for at least 10 years, and each beneficiary under the RESP has attained 21 years of age and is not eligible to receive educational assistance payments.<\/li><\/ul><p>The accumulated income payment rollover to an RDSP will not be subject to regular income tax or the additional 20% tax.<\/p><p>When an RESP rollover occurs, contributions in the RESP will be returned to the RESP subscriber on a tax-free basis. Also, grants and incentives must be repaid to the applicable government and the RESP terminated by the end of February of the following year.<\/p><p>The investment income rolled over to an RDSP:<\/p><ul><li>will be considered a private contribution for the purpose of determining whether the RDSP is a primarily government-assisted plan (PGAP) but will not attract Canada disability savings grants (CDSGs)<\/li><li>will be included in the taxable portion of RDSP withdrawals made to the beneficiary<\/li><li>may not exceed and will reduce the RDSP contribution lifetime limit.<\/li><\/ul><p>An investment income rollover cannot be made if the beneficiary:<\/p><ul><li>is not eligible for the disability tax credit (DTC)<\/li><li>is deceased<\/li><li>is over 59 years of age in the year of the contribution<\/li><li>is not a resident of Canada.<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"payment-to-a-designated-educational-institution\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1083\"><span class=\"eael-accordion-tab-title\">Payment to a designated educational institution<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1083\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"payment-to-a-designated-educational-institution\"><p>An RESP may provide for payments to be made to a Canadian designated educational institution or to a trust for such an institution at any time.<\/p><p>For example, payments could occur when the plan is left with only a small amount of cash after the subscriber withdraws the contributions as a refund of contributions and one or more of the requirements for AIPs are not met.<\/p><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"plantermination-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"plantermination-tab\">\n\t\t\t\t        <style>.elementor-48 .elementor-element.elementor-element-71e2e9f2{--display:flex;}.elementor-48 .elementor-element.elementor-element-61acbd03{--display:flex;--flex-direction:column;--container-widget-width:100%;--container-widget-height:initial;--container-widget-flex-grow:0;--container-widget-align-self:initial;--flex-wrap-mobile:wrap;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25px;color:#333;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon{font-size:16px;margin-left:10px;color:#333;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg.fa-accordion-icon{height:16px;width:16px;line-height:16px;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list{margin-bottom:10px;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-accordion-icon-svg svg{color:#333;fill:#333;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header svg{fill:#333;}.elementor-48 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.eael-accordion-list .eael-accordion-header svg.fa-toggle{height:16px;width:16px;line-height:16px;fill:#444;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle{color:#444;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .fa-toggle svg{color:#444;fill:#444;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle{color:#fff;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active .fa-toggle svg{color:#fff;fill:#fff;}.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header.active svg.fa-toggle{fill:#fff;}@media(max-width:767px){.elementor-48 .elementor-element.elementor-element-687e794f .eael-adv-accordion .eael-accordion-list .eael-accordion-header .eael-accordion-tab-title{line-height:1.25em;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"48\" class=\"elementor elementor-48\">\n\t\t\t\t<div class=\"elementor-element elementor-element-71e2e9f2 e-flex e-con-boxed e-con e-parent\" data-id=\"71e2e9f2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-11e676b7 elementor-widget elementor-widget-heading\" data-id=\"11e676b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Plan Termination<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f3e1d60 elementor-widget elementor-widget-text-editor\" data-id=\"6f3e1d60\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>An RESP may be terminated at any time, subject to the terms of the plan provider.\u00a0 However, an RESP must be terminated on or before the last day of the 35<sup>th<\/sup> year following the year that the plan was entered, or the 40<sup>th<\/sup> year for a specified plan.\u00a0 A specified plan is essentially a single beneficiary RESP (non-family plan) under which the beneficiary is entitled to the disability tax credit for the beneficiary&#8217;s tax year that includes the 31<sup>st<\/sup> anniversary of the plan.<\/p><p>When the RESP is terminated, the assets can be paid out in the following manner:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-61acbd03 e-flex e-con-boxed e-con e-parent\" data-id=\"61acbd03\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-687e794f elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"687e794f\" data-element_type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-687e794f\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"687e794f\" data-accordion-type=\"accordion\" data-toogle-speed=\"300\">\n    <div class=\"eael-accordion-list\">\n                <div id=\"return-of-contributions\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1751\"><span class=\"eael-accordion-tab-title\">Return of Contributions<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1751\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"return-of-contributions\"><p>Contributions are returned tax-free to the subscriber.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"return-of-grants\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1752\"><span class=\"eael-accordion-tab-title\">Return of Grants<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1752\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"return-of-grants\"><p>Federal and provincial government grants are returned to the government, as this money can only be used to pay for post-secondary education.<\/p><\/div>\n                <\/div><div class=\"eael-accordion-list\">\n                <div id=\"withdraw-investment-earnings\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1753\"><span class=\"eael-accordion-tab-title\">Withdraw Investment Earnings<\/span><svg aria-hidden=\"true\" class=\"fa-toggle e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/div><div id=\"elementor-tab-content-1753\" class=\"eael-accordion-content clearfix\" data-tab=\"3\" aria-labelledby=\"withdraw-investment-earnings\"><p>There are a few options:<\/p><ul><li><em>Accumulated Income Payment (AIP)<\/em>. For a family or individual RESP, investment earnings can be paid to the subscriber as an AIP. \u00a0The subscriber has to pay tax on any AIP received from the plan plus a 20% additional tax.<\/li><\/ul><ul><li><em>Payment to a Designated Educational Institution<\/em>. If the criteria for an AIP are not met, the earnings can be paid to a designated educational institution.<\/li><\/ul><ul><li><em>Transfer to an RESP<\/em>. The regular tax can be deferred, and the additional tax can be avoided where up to $50,000 is transferred as a contribution to the RRSP of the subscriber or a spousal RRSP, provided the subscriber has sufficient contribution room.<\/li><\/ul><ul><li><em>Remains with Group RESP<\/em>. For a group RESP, if the subscriber drops out or cancels the plan before it matures, the investment earnings stay in the plan and are shared with the remaining beneficiaries of the group when the plan matures. Depending on the terms of the plan, it may be possible to transfer the RESP savings to an individual plan.<\/li><\/ul><\/div>\n                <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b505087 elementor-widget elementor-widget-text-editor\" data-id=\"b505087\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em><strong>Note: If the beneficiary does not attend post-secondary education immediately, the plan can be left open to accumulate tax-free should the beneficiary reconsider at a later date.<\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t                    <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Transactions Contributions Grants Withdrawals Plan Termination Contributions A subscriber can make a contribution for a beneficiary under the plan if the beneficiary is a resident in Canada and the beneficiary\u2019s SIN has been provided to the promoter of the plan. Contributions to an RESP are not deductible from the subscriber\u2019s income. Control of the contributions&#8230;<\/p>\n","protected":false},"author":1,"featured_media":923,"parent":0,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"class_list":["post-310","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/pages\/310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/comments?post=310"}],"version-history":[{"count":88,"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/pages\/310\/revisions"}],"predecessor-version":[{"id":3553,"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/pages\/310\/revisions\/3553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/media\/923"}],"wp:attachment":[{"href":"https:\/\/wordpress.dockhost.synology.me\/en_ca\/wp-json\/wp\/v2\/media?parent=310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}