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[加拿大] RESP [複製鏈接]

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EvelynMom


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1#
發表於 09-7-11 00:16 |只看該作者
Did anyone know about RESP? I read some information about it.

I would like to ask if any parents buy RESP for their kids?

What are the pros & cons & possible risk?

Kindly share. Thx
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ckkwkl


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2#
發表於 09-7-20 13:19 |只看該作者
原帖由 EvelynMom 於 09-7-10 11:16 發表
Did anyone know about RESP? I read some information about it.

I would like to ask if any parents buy RESP for their kids?

What are the pros & cons & possible risk?

Kindly share. Thx
私人傳訊

ckkwkl


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3#
發表於 09-7-20 14:07 |只看該作者
原帖由 EvelynMom 於 09-7-10 11:16 發表
Did anyone know about RESP? I read some information about it.

I would like to ask if any parents buy RESP for their kids?

What are the pros & cons & possible risk?

Kindly share. Thx


I will answer you tomorrow, I have posted twice (long long reply) but are all "eaten" and lost. I am sleepy now, reply tomorrow.
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ckkwkl


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4#
發表於 09-7-21 08:04 |只看該作者
The purpose of RESP is to encourage parents to save for their children's education.

There are three types of RESP :
1) individual plan (or non-family) plan - can have only one beneficiary
2) family plan - can have one or more beneficiaries, but all must be connected by blood or adoption to the subscriber.
3) group plan - usually offered by not-for-profit scholarship plan foundations. group plan pool the contributions made by subscribers and invest them to earn income. beneficiaries are grouped according to date of maturity.

Banks, insurance companies, financial institutes usually used 1) and 2). Higher risks and administration fees for these because only a small percentage of the provider.
The few companies who specialized in RESP only usually used 3); and they can have a higher interests to subscriber because the fund gathered is much higher. These few institutes are members of the RESP Dealers Association of Canada; and have to follow the rule and regulations. Each company will have their own plan.

No matter which RESP the beneficiaries are registered under, the Federal Government launched the Canada Education Savings Grant (CESG) program to provide incentive for parents.

A grant of up to $600 per year (20% of maximum contributions; life time max $7200), depends on how much was contributed by the subscriber will be paid to the beneficiaries by government.

the above are only some rough idea of RESP. if you have question, you can post here.

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doggie


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5#
發表於 09-7-21 21:40 |只看該作者
can the non-resident people buy the RESP and claim the 20% benefit from the government?
i am asking for my friend who is currently lived in HK
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ckkwkl


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6#
發表於 09-7-23 01:08 |只看該作者
原帖由 doggie 於 09-7-21 08:40 發表
can the non-resident people buy the RESP and claim the 20% benefit from the government?
i am asking for my friend who is currently lived in HK


the subscriber must reside in canada during time of enrollment.
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ckkwkl


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7#
發表於 09-8-19 10:07 |只看該作者
原帖由 ckkwkl 於 09-7-22 12:08 發表


the subscriber must reside in canada during time of enrollment.


subscriber must reside in canada during time of enrollment and contribution. if you leave canada and apply for non-residence, the RESP must collaspe; or convert the contribution method into a lumpsum (but this depends on which company you are using and their rules and regulations).
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ckkwkl


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8#
發表於 09-8-19 10:45 |只看該作者
one can put in up to $50000 for each child named in an RESP. there is no annual contribution limit, but the government will add a grant (CESG) on $2500 saved annually, percentage depends on your net family income. the maximum lifetime grant that the federal government can give to your child is $7200.

in addition to this, if the child was born after 31 dec 2003, the child can get $500 canada learning bond (CLB) plus $100 per year up to age 15 (total $2000) when you open an RESP account for your child
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