RESP Withdrawal and Tax Planner

Recommended school-year withdrawal mix $8,000 EAP + $11,500 contributions

Uses EAP first up to the entered limit, then contribution withdrawals.

Estimated student tax $0

Uncovered gap $0

School status Current enrollment status Estimated student tax rate on EAPs

School-year need Tuition and compulsory fees

Books, equipment, rent, transportation, and other school costs

Available RESP buckets Available contribution balance

Available grants, bonds, incentives, and earnings

CESG tracking CESG included in planned EAP

EAP limit used $8,000

First-13-week full-time EAP limit.

School-year costs entered $19,500

Provider may ask for proof of enrolment or receipts for expenses.

Planned EAP $8,000

EAPs are taxable to the student and reported on a T4A slip.

Contribution withdrawal $11,500

Contribution withdrawals are generally tax-free, but timing can affect grants.

Ask the provider Proof and grant impact

Confirm documentation, tax slip recipient, and whether any grant repayment applies.

Input Use real family numbers

Replace defaults with the child's age, contribution history, province, school timing, or provider details where the tool asks for them.

Output Compare the next decision

Use the result to decide what to ask the promoter, not as proof of eligibility or investment outcome.

Constraint Confirm before acting

RESP grants, withdrawals, transfers, fees, and school eligibility can depend on provider support and current government rules.

Assumptions and constraints

Review before using the result 0/4 checked

01 This planner uses simplified EAP limits and tax estimates; the RESP promoter determines required proof, reasonable expenses, and plan-specific withdrawal rules. 02 EAPs include grants, bonds, provincial benefits, and earnings, and are generally taxable to the student. 03 Contribution withdrawals are generally tax-free, but some withdrawals can trigger grant repayment depending on timing and circumstances. 04 The result is educational only and is not financial, tax, legal, or investment advice.

Official sources

Pay for education using the RESP Canada.ca · checked 2026-05-24 RESP payments, transfers, and rollovers Canada Revenue Agency · checked 2026-05-24 Managing an RESP Canada.ca · checked 2026-05-24