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Enrichment Contributions excellent teaching that your son or daughter receives is provided free of charge as this is funded by the government. Your enrichment contribution finances the extensive and
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RESPs (Registered Education Savings Plans) are savings accounts designed to help families save for their children's post-secondary education, while OFORMR (Other Forms of Registered Money Resources) refers to other types of registered savings or investment accounts.
Individuals who have opened RESPs or similar registered savings accounts and are looking to claim government grants or tax benefits are required to file RESPs and OFORMR forms.
To fill out RESPs and OFORMR forms, you need to provide personal information about the beneficiary, the subscriber, account details, and any contributions or withdrawals made during the reporting period.
The purpose of RESPs is to encourage savings for educational purposes by providing tax advantages and access to government grants, while OFORMR serves similar purposes for other registered savings and investment plans.
The information that must be reported includes subscriber and beneficiary details, the total contributions made, any earnings or withdrawals, and any government grants received.
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