Registered Education Savings Plans (RESPs)

Anti-avoidance rules for RESP

The rules provide a special tax on certain advantages that unduly exploit the tax attributes of an RESP, as well as special taxes on prohibited investments and on non-qualified investments.

Each person who is a subscriber of an RESP is jointly liable for the taxes on prohibited investments, non-qualified investments and advantages described below. Where two or more subscribers of an RESP are jointly liable to pay such a tax only one form needs to be filed on behalf of all the subscribers that are liable for the tax.

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