Ted wants to establish an RESP on behalf of his son, Dree, who was born this year.

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Ted wants to establish an RESP on behalf of his son, Dree, who was born this year. What statement is FALSE? Question 25 options:

a) Contributions to all RESPs on behalf of Dree are subject to a lifetime limit of $50,000.

b) The maximum annual contribution Ted can make to Dree's RESP for any given year is capped at $4,000.

c) If Ted establishes the RESP today, Ted would have to terminate the RESP no later than the end of the year in which Dree turns 35 years of age.

d) If Ted makes his first RESP contribution at some point this year, Ted can continue making contributions up to and including the year in which Dree turns 31 years of age

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Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: Feb 14, 2024 03:26 AM

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Ted wants to establish an RESP on behalf of his son, Dree, who was born this year.

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Smith and Roberson Business Law

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