Everything you need to know about RESPs and how to minimize your familys tax liability

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Driving my daughter back to university this past week gave us some quality time together to review the ins and outs of the RESP that was established nearly two decades ago for her and her siblings. Sure, she always knew that funds were set aside to help with tuition, books and accommodations, but she was unaware of the potential tax bill that may be associated with RESP withdrawals, if not properly managed.

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Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Jamie Golombek

Original Article Posted on:  Sep 04, 2020

Link to Original Article:  https://financialpost.com/personal-finance/taxes/everything-you-need-to-know-about-resps-and-how-to-minimize-your-familys-tax-liability/wcm/c0e8ae06-3761-47c5-a7bf-71f36b242b28/