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枫下家园 / 理财投资税务 / RESP questions?Two RESP question:
1. Is it mandatory to have SIN card for my kid before I apply RESP for him? I want to buy it from CST for my son.
2. Is it mandatory to buy RESP from the agent not directly from the organization? I try to avoid to pay the commission.
Thanks.
-bigbenben(TedyBear);
2002-12-17
{268}
(#921564@0)
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Re: ...1. Is it mandatory to have SIN card for my kid before I apply RESP for him? I want to buy it from CST for my son.
\/\/\/\/ Yes, it is. They need this for the government grant.
2. Is it mandatory to buy RESP from the agent not directly from the organization? I try to avoid to pay the commission.
\/\/\/\/ Not necessary. You are able to buy directly from some institution, or even play with self-directed RESP available from financial groups, like banks.
-gel(切菜擀面捏饺子捣蒜);
2002-12-18
{472}
(#922090@0)
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One more quesionThanks a lot for reply. One more question, if I buy RESP directly from financial institution, does it mean I do not need to pay commission and I can still get $200 per year government assistance?
-bigbenben(TedyBear);
2002-12-18
{195}
(#922859@0)
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I am not really sure,
-gel(切菜擀面捏饺子捣蒜);
2002-12-18
{936}
(#922954@0)
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1. Yes. 2, No.
-1499728inc(bank);
2002-12-18
(#922565@0)
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1. You don't have to, when you apply, but the number must be ready within 12 months. Which is not difficult.
2. You can't save your commission, even you deal directly with CST. some agent will give you something ...
-resp4child(教育基金);
2002-12-20
(#926607@0)
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2. some organization doesn't deal with individal, must through agent. if you call them directly, they will assign a agent for you, and he/she get your commission.
-resp4child(教育基金);
2002-12-20
(#926617@0)