A personal finance blog written by Preet Banerjee
The RESP bill proposed by Dan McTeague which would allow RESP contributions to be tax-deductible like contributions to a Registered Retirement Savings Plan (RRSP) has been effectively killed. The House of Commons passed a confidence motion yesterday to that effect.
You can read more about the story here.
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About Preet
Preet Banerjee, B.Sc., FMA, DMS, FCSI is the W Network's Money Expert. He is a former stockbroker and financial planner. Prior to that, he was a racecar driver, and before that he trained to be a neuroscientist. Basically, he can't hold down a job for very long.
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This is a great thing, it should have been done in the budget from the start. Now it will still be an issue for next year, but done properly and planned for.