Use this calculator to see the tax benefits
of investing in a Registered Education
Savings Plan (RESP).
Alberta
Your taxable income (maximum value $250,000)
75,000
Your Taxable Income
Enter the taxable income amount from line 260 of your personal income tax return.
Annual RESP contribution (maximum value $5,000)
2,500
Annual RESP Contribution
There is no annual RESP contribution limit but there is a lifetime maximum limit of $50,000.
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.
Contribute for (maximum 18 years)
18
X
Input Error: Contribute for (years)
The maximum value you can enter is 18 years.
Rate of return (maximum value 16%)
6.00%
X
Input Error: Rate of return
Enter a value between and %.
Investment Value in 18 Years
RESP
Non-RESP
RESP Advantage
Assumptions
Calculations use marginal tax rates as of . 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 include the CESG grant.
Disclaimer
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:
$2,000
Contribute for (years):
25
Rate of return:
6.00%
Assumptions
Calculations use marginal tax rates as of . 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 include the CESG grant.