Comments on: Keep RESP Tax Shelter. Drop HRC Funding.

By: Sheldon Kotyk

Sheldon Kotyk — Tue, 11 Mar 2008 20:48:16 +0000

I guess that my question was more along the lines of “Can you see this actually costing what the economists are predicting?”

By: resp guy

resp guy — Tue, 11 Mar 2008 20:29:41 +0000

I do not have an “expert “opinion on the national economic picture.
I believe money can be found if they want to fit this in.

The popular economic press has come out against this idea saying it would only help the upper middle classes and above. This is true but what’s wrong with that! I would have loved a tax break while I was saving for my kids education. I would have spent it (as one can never have enough stuff) or re invested in the economy. Either way it’s a win!

The lefties are against anything helping anyone who is making their own way in the world and unfortunately, they are the majority these days, as evidenced by our three left wing opposition parties.

The Tories won’t allow the opposition to set the fiscal agenda. If they do, they will have lost the moral authority to govern but, watch for a Tory version of this same bill, perhaps a partial tax excemption?!, or something like that in the next election.

By: Sheldon Kotyk

Sheldon Kotyk — Sun, 09 Mar 2008 04:47:28 +0000

There is no downside to this.

Wait a second, hold on… there has to be a downside. Isn’t our economy going to tank if all of a sudden every parent dumps the $5000 they had in that special savings account into an RESP instead?

OK, that was enough sarcasm.

resp guy, even if the gov’t can’t cut a useless program to ‘fit’ this in, can you think of a reason this will break the bank?

By: resp guy

resp guy — Sat, 08 Mar 2008 18:55:42 +0000

RESP’s are used for post secondary education. Everything from truck driving, hair dressing, apprenticeship programs, college, university qualifies.
The minimum requirement for taking money out of an resp is three weeks of school, ten hours per week for a total of thirty hours. That’s 5 days at 6 hours per day.
…and if your kids choose not to go, you roll the profit’s into your RRSP.
There is no downside to this.
The Tories need to back this and cancel one of those stupid liberal programs to pay for it!

By: Sheldon Kotyk

Sheldon Kotyk — Sat, 08 Mar 2008 17:46:24 +0000

This is a tax deduction so that parents can afford to help pay for their children’s education. Plumbers and Mechanics can use the deduction as well to help pay for their child’s education.

By: rebarbarian

rebarbarian — Sat, 08 Mar 2008 14:11:19 +0000

Sorry, have to disagree. A large number of Canadians do not go to university. They end up subsidizing those who do. A large percentage of university education ends up being a Bachelor of Arts. Persuade me as to why plumbers and mechanics should have to pay for that.

By: JMP

JMP — Sat, 08 Mar 2008 03:32:47 +0000

http://tax-free-resp.blogspot.com/

By: lance

lance — Sat, 08 Mar 2008 02:48:59 +0000

The gov’t needs a way to fund this.

By: Sheldon Kotyk

Sheldon Kotyk — Sat, 08 Mar 2008 02:37:19 +0000

I’d much rather have a tax break for doing something positive for my kids than a gun registry which does absolutely nothing to prevent crime, or HRCs that do their best to take away freedom of speech.

By: Surecure

Surecure — Sat, 08 Mar 2008 01:50:15 +0000

Well, if they drop the gun registry and the HRC, they’d only have to find another $800 million or so to balance out the costs. Shouldn’t be too hard.