Tuesday, March 11, 2008

Conservatives vow to kill RESP tax break bill

CTV.ca News Staff

The Tories are vowing to kill a private member's bill that would give tax cuts to parents who save for their children's post-secondary education.

The bill, which quietly passed in the Commons earlier this week, would treat Canada's Registered Education Savings Plan more like RRSPs. If the Senate passes the proposal it would allow parents to contribute up to $5,000 annually to an RESP for each child -- and deduct the amount contributed from their income taxes.

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