Questrade's self-directed RESP (Registered Education Savings Plan) allows subscribers
– usually a blood or adopted relative of the beneficiary – to make tax-deferred
contributions to a child's education. The benefit of a self-directed education plan
is the control it gives subscribers to decide how and where the savings are invested.
Parents, grandparents, relatives and friends can all contribute to an individual
plan. RESP contributions are not tax-deductable. They do, however, allow savings
to compound and grow tax-free.
The Canada Education Savings Grant
This is a government program that supplements your RESP contributions. The government
contribution, based on a percentage of your contribution, varies depending on your
income level. Annual and lifetime caps apply. To receive the Canada Education Savings
Grant, you must have the subscriber's birth certificate, social insurance number
and be a recipient of the Canada child tax benefit.
The Canada Learning Bond
An initiative targeted at lower-income families, the bond is deposited directly
into the subscriber's RESP. This is an outright grant that is not based on the subscriber's
RESP contributions.
We've bundled all the additional application documents for government programs,
such as the application for the CESG, into Questrade's RESP account application
process. You will be prompted during the account opening process to download additional
documents that may be applicable to you.
We have also included links to take you directly to the relevant web pages maintained
by the Government of Canada.
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Registered Education Savings Plans on the Human Resources and Social Development
Canada site. Available in English, French, Arabic, Cantonese, German, Inuktitut,
Italian, Mandarin, Polish, Portuguese, Punjabi, Spanish and Tagalog |
Visit website |
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Registered Education Savings Plan (RESP) brochure |
Visit website |
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Canadian Education Savings Grants (CESG) |
Visit website |
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Canada Learning Bond (CLB) |
Visit website |
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Apply for a birth certificate |
Visit website |
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Apply for a Social Insurance Number (SIN) |
Visit website |
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Apply for the Canada Child Tax Benefit (CCTB) |
Visit website |
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