Centre lawyers are in the process of filing an appeal with Divisional Court in an attempt to overturn a decision by the Social Benefits Tribunal that denied an application by Cristita Ostique of Scarborough for social assistance because her daughter Cristal has an RESP.
Income earned on the original contributions is exempt from tax as it accrues within the RESP.
16) The second row reports the percentage of Canadian children who are beneficiaries of an RESP.
Another change brought in in 1998 was introduction of the Canadian education savings grant (CESG), a grant from the federal government paid directly into a beneficiary's RESP.
Parents, grandparents, aunts, uncles or anyone else who wants to help fund a child's education may open an RESP.
Effective January 1, 1998, the Federal Government will contribute a grant equal to 20% (maximum $400 per child) on the first $2000 annual contributions directly to the subscriber's RESP.
50 followed by a share split entitling the holder with four shares A resp.
Free Maestro or Visa Electron plastic cards will also be provided to the investors with a credit up to 90% of deposited sum available at 16% and 12% interest rate for AMD and USD deposits resp.