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How to Withdraw from an RESP
Navigating RESP withdrawals can feel tricky, but here’s the breakdown: only government grants, Canada Learning Bond funds, and investment growth are taxed—usually at the student’s lower tax rate—while your own contributions stay tax-free. Start by withdrawing taxable portions first, then use your own money for the rest. Watch out for limits: $8,000 for full-time students and $4,000 for part-time students in the first semester, after which withdrawals are unlimited. Shift to safer investments as graduation nears, and always verify enrollment before accessing funds. Support the show:Get a…
The skinny
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