Canada’s federal government is proposing to extend a number of existing anti-avoidance rules that currently exist for tax-free savings accounts (TSFAs), RRSPs and RRIFs to registered education savings plans (RESPs) and registered disability savings plans (RDSPs) in this year’s federal budget.<\/p>\n
RESPs and RDSPs are tax-assisted registered plans. RESPs help families accumulate savings for a child’s post-secondary education while RDSPs allow persons with disabilities \u2014 and their families \u2014 to save for the future.<\/p>\n
The anti-avoidance rules that currently exist for TFSAs, RRSPs and RRIFs help ensure that the plans do not provide excessive tax advantages unrelated to their respective basic objectives, the government says.<\/p>\n
These rules include:<\/p>\n
Watch: <\/strong>Changes to RESPs and RDSPs<\/a><\/strong><\/p>\n