RESP for school
Hello I’m wondering if this is correct. First off the resp is not much and I’d like to go with my parents to withdraw it. So on rbc site it says if I provide proof of enrolment I get the whole amount sent to me and if I don’t I simply get the contribution portion and must pay tax on the government part. Is this correct so far? Also, when I called to ask I stated I was going to use it for educational purposes but the agent still says I pay tax on the government part. Is that correct? Lastly the tax is based on the student(me) income so what if I’m full time and don’t work.
I already paid for tuition and books so I plan on using it for meals on days I have classes for seven hours, is this not allowed? Will I get in trouble?
Do I the student include the amount once I get it onto my income tax and if so for which year? I’m guessing for this upcoming filings but not sure.
I already paid for tuition and books so I plan on using it for meals on days I have classes for seven hours, is this not allowed? Will I get in trouble?
Do I the student include the amount once I get it onto my income tax and if so for which year? I’m guessing for this upcoming filings but not sure.