Tax Benefits of an RESP


Use this calculator to see the tax benefits
of investing in a Registered Education
Savings Plan (RESP).

Where do you live? Alberta
Your taxable income
75,000
Annual RESP contribution
2,500
Contribute for (years)
18
Rate of return
6.00%
Your Taxable Income

Enter the taxable income amount from line 260 of your personal income tax return.
Annual RESP Contribution

There is no annual RESP contribution limit but there is a lifetime maximum limit of $50,000.
X
Input Error: Contribute for (years)

The maximum value you can enter is 18 years.
X
Input Error: Rate of return

The maximum rate of return you can enter is 15.00%.
X
Input Error:
Annual RESP Contribution


You have exceeded the $50,000 maximum lifetime limit by . Enter a lower Annual RESP contribution amount, or decrease the number of contribution years.
Investment Value in 18 Years
RESP
Non-RESP
RESP Advantage




 

Assumptions
Calculations use marginal tax rates as of January 2017. Rates take all federal and provincial taxes and surtaxes into account and the basic personal tax credit. Annual RESP contributions are made at the start of each year. Calculations do not include the CESG grant or any provincial grants.

Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. ® The Assante symbol and Assante Wealth Management are registered trademarks of CI Investments Inc., used under license.