October  2022 – While there is no deadline for RESP contributions, if your child or grandchild turned 15 this year, this could be their last chance for the Canada Education Savings Grant (CESG) 20% matching grant.
If they do not already have an RESP you will need to contribute at least $2,000 before December 31st so they are eligible for the grants now and for the next two years.
Once your child/grandchild is in post secondary education they can withdraw RESP: Educational Assistance Payments which will be taxable to them as the student.
December is a great time to review their income (part-time income? summer job?) to make sure they maximize their basic personal amount. This is a use it or lose it exemption each year, so it may make sense to withdraw some RESP funds before year end. Talk to your financial planner about maximizing past grants too.