Anti-avoidance rules for RESPs

Effective March 22, 2017, the budget proposes to extend the anti-avoidance rules governing the Registered Plans to the Registered Education Savings Plans.

The rules provide for 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.

Topics 

• Tax payable on non-qualified investments
• Tax payable on prohibited investments
• Tax payable on an advantage
• Refund of taxes paid on non-qualified or prohibitied investments
• How to request a waiver or a cancellation of taxes

Forms and publications

• Form RC339, Individual Return for Certain Taxes for RRSPs, RRIFs, RESPs or RDSPs