Tax Benefits of an RESP
Use this calculator to see the tax benefits of investing in a Registered Education Savings Plan (RESP).
| Alberta |
|
75,000
Your Taxable Income
Enter the taxable income amount from line 260 of your personal income tax return. |
|
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. |
|
18
Input Error: Contribute for (years)
The maximum value you can enter is 18 years. |
|
6.00%
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
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.
Disclaimer