Registered Education Savings Plan (RESP)
Suitable for objectives with a longer time horizon focused on post-secondary education. Assets can grow tax-deferred, and government grants can further enhance the savings for a child's future.
Wealth management products and services offered by:
Registered Education Savings Plan (RESP)
Suitable for objectives with a longer time horizon focused on post-secondary education. Assets can grow tax-deferred, and government grants can further enhance the savings for a child's future.
Wealth management products and services offered by:
Registered Education Savings Plan (RESP)
Suitable for objectives with a longer time horizon focused on post-secondary education. Assets can grow tax-deferred, and government grants can further enhance the savings for a child's future.
Wealth management products and services offered by:
An RESP offers tax-sheltered growth and incentives for education savings
Tax-Deferred Growth Potential
Investment income earned within an RESP, including capital gains and dividends, is not subject to tax while it remains in the plan. This allows the full value of your investment and grants to compound over time.
Government Grant Incentives
The federal government provides the Canada Education Savings Grant (CESG), matching 20% of annual contributions up to a certain limit. Lower-income families may also be eligible for the Canada Learning Bond (CLB).
Versatile Educational Objectives
An RESP can be utilized for a wide range of post-secondary paths—such as university, college, trade schools, or apprenticeship programs. Funds can be used for tuition, housing, books, and other related expenses.
An RESP offers tax-sheltered growth and incentives for education savings
Tax-Deferred Growth Potential
Investment income earned within an RESP, including capital gains and dividends, is not subject to tax while it remains in the plan. This allows the full value of your investment and grants to compound over time.
Government Grant Incentives
The federal government provides the Canada Education Savings Grant (CESG), matching 20% of annual contributions up to a certain limit. Lower-income families may also be eligible for the Canada Learning Bond (CLB).
Versatile Educational Objectives
An RESP can be utilized for a wide range of post-secondary paths—such as university, college, trade schools, or apprenticeship programs. Funds can be used for tuition, housing, books, and other related expenses.
An RESP offers tax-sheltered growth and incentives for education savings
Tax-Deferred Growth Potential
Investment income earned within an RESP, including capital gains and dividends, is not subject to tax while it remains in the plan. This allows the full value of your investment and grants to compound over time.
Government Grant Incentives
The federal government provides the Canada Education Savings Grant (CESG), matching 20% of annual contributions up to a certain limit. Lower-income families may also be eligible for the Canada Learning Bond (CLB).
Versatile Educational Objectives
An RESP can be utilized for a wide range of post-secondary paths—such as university, college, trade schools, or apprenticeship programs. Funds can be used for tuition, housing, books, and other related expenses.
Understanding the RESP Account
Who could open an RESP?
The RESP is ideal for parents, grandparents, or friends who want to save for a child’s education. It is suitable for those seeking to maximize savings through government grants while benefiting from tax-sheltered investment growth.
Lifetime Contribution Limit
This is the total amount that can be contributed for a single beneficiary over their lifetime. The current maximum lifetime contribution limit is $50,000 per beneficiary.
Annual Grant Limit
While there is no annual contribution limit, the Canada Education Savings Grant (CESG) will match 20% on the first $2,500 of annual contributions (up to $500 per year) or up to $1,000 if there is carry-forward room.
Indefinite Carry-Forward Unused Grant Room
If you do not contribute enough to receive the maximum grant in a given year, the unused grant room is carried forward. You can catch up on one previous year of grants at a time by contributing up to $5,000 in a single year.
35-Year Account Life
You can keep an RESP open for up to 35 years. If the beneficiary does not pursue post-secondary education, the contributions can generally be returned to the subscriber tax-free.
Understanding the RESP Account
Who could open an RESP?
The RESP is ideal for parents, grandparents, or friends who want to save for a child’s education. It is suitable for those seeking to maximize savings through government grants while benefiting from tax-sheltered investment growth.
Lifetime Contribution Limit
This is the total amount that can be contributed for a single beneficiary over their lifetime. The current maximum lifetime contribution limit is $50,000 per beneficiary.
Annual Grant Limit
While there is no annual contribution limit, the Canada Education Savings Grant (CESG) will match 20% on the first $2,500 of annual contributions (up to $500 per year) or up to $1,000 if there is carry-forward room.
Indefinite Carry-Forward Unused Grant Room
If you do not contribute enough to receive the maximum grant in a given year, the unused grant room is carried forward. You can catch up on one previous year of grants at a time by contributing up to $5,000 in a single year.
35-Year Account Life
You can keep an RESP open for up to 35 years. If the beneficiary does not pursue post-secondary education, the contributions can generally be returned to the subscriber tax-free.
Understanding the RESP Account
Who could open an RESP?
The RESP is ideal for parents, grandparents, or friends who want to save for a child’s education. It is suitable for those seeking to maximize savings through government grants while benefiting from tax-sheltered investment growth.
Lifetime Contribution Limit
This is the total amount that can be contributed for a single beneficiary over their lifetime. The current maximum lifetime contribution limit is $50,000 per beneficiary.
Annual Grant Limit
While there is no annual contribution limit, the Canada Education Savings Grant (CESG) will match 20% on the first $2,500 of annual contributions (up to $500 per year) or up to $1,000 if there is carry-forward room.
Indefinite Carry-Forward Unused Grant Room
If you do not contribute enough to receive the maximum grant in a given year, the unused grant room is carried forward. You can catch up on one previous year of grants at a time by contributing up to $5,000 in a single year.
35-Year Account Life
You can keep an RESP open for up to 35 years. If the beneficiary does not pursue post-secondary education, the contributions can generally be returned to the subscriber tax-free.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Even more ways to grow your wealth
TFSA
Tax-Free Savings Account
A TFSA allows Canadians to set money aside tax-free. Unlike RRSPs, contributions aren't deductible, but any investment income, including capital gains and dividends, is earned tax-free and can be withdrawn at any time.
No Tax on Gains: Investment growth is never taxed.
Withdrawal Flexibility: Funds can be withdrawn and re-contributed later.
Non-Registered Accounts
Personal, Joint, and Business Accounts
A non-registered account offers a flexible way to invest without the contribution limits of a TFSA or RRSP. It provides immediate access to your capital while ensuring your wealth grows in 100% Shariah-compliant portfolios.
Zero Limits: Invest as much as you want with no government caps.
Total Access: Withdraw your funds at any time without penalties.
Disclaimer
* Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
* Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
* Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*