Tax Benefits of an RESP

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


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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 do not include the CESG grant or any provincial grants.

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