Comments on: Breaking News: RESP Contributions To Become Tax Deductible?

By: Preet

Preet — Fri, 07 Mar 2008 22:45:34 +0000

Good point Traciatim - there are many details that would need to be ironed out (or disseminated), including what affects this will have on the CESG.

Higher income Canadians will benefit most, and this might not be equitable, and a source of debate.

This will be an interesting story to watch from many angles...

I agree with you Nicolas - if we want our voices heard, we need to call our MP's. Every little bit helps.

By: Traciatim

Traciatim — Fri, 07 Mar 2008 18:29:18 +0000

I wonder if this happens will the deduction be above line 236 on the T1 forms making the line 236 affected by the change. This would mean that the GST cheque and the baby bonus would then be changed as well. This means people can get guaranteed returns by reducing their income rather than relying on investments for people in the lower income ranges.

By: NIcolas

NIcolas — Fri, 07 Mar 2008 11:09:27 +0000

Thanks for the mention.

Canadian Capitalist also got this one out on his blog. It seems to have flown under a lot of news websites. Perhaps we'll hear more of it tomorrow.

I say we all call our MPs and tell them what we think.

But one thing still remains. If passed, the next question is: will be will it be applied?

Nicolas