RESPs Explained: How to Save, Maximize Grants and Use the Money Strategically

qtq80-NAqLX0

Back-to-school season naturally gets families thinking about education.

 

For parents of younger children, university or college may still feel years away. For parents of teenagers, that future can suddenly feel very close.


Either way, one question eventually comes up:


How are we going to pay for it?
A Registered Education Savings Plan (RESP) is one of the main tools available to Canadian families to prepare for post-secondary education. But an RESP is much more than simply an account where parents deposit money.


Used thoughtfully, it can combine your own savings, government incentives and investment growth over many years.


And when the time comes to use the money, there are important decisions around how and when funds are withdrawn.


That is why we believe families should think about an RESP in three stages: Save → Grow → Withdraw


Each stage deserves some planning.

What exactly is an RESP?

An RESP is a registered account designed to help save for education after high school.

 

A parent can open one for a child, but parents aren’t the only people who can be subscribers. Grandparents, other relatives and even friends may also open an individual RESP.

 

There are different types of plans, including individual and family RESPs.

 

For most new accounts, the person opening the RESP will need a Social Insurance Number (SIN), and the child will also need a valid SIN. The beneficiary generally needs to be a resident of Canada when they are named on the plan and when contributions are made in order to receive federal education savings incentives.

 

For families who recently arrived in Canada, this is particularly important.

 

Pro Tip: Once your child’s SIN is available, don’t assume you need to wait several years before thinking about an RESP. The earlier you understand the available grants and your family’s contribution strategy, the more options you may have.

The first major advantage: government grants

This is where RESPs become particularly interesting.

Your RESP contribution itself does not create an income-tax deduction like an RRSP contribution does.

 

Instead, eligible RESP contributions can attract government education savings incentives.

 

Canada Education Savings Grant — CESG

 

The basic Canada Education Savings Grant generally adds 20% to the first $2,500 contributed for an eligible child each year.

That means:

The lifetime CESG maximum is $7,200 per beneficiary.

Depending on family income, some children may also qualify for an additional CESG on the first $500 contributed each year.

 

This is why contribution planning matters.

Putting significantly more than $2,500 into an RESP during a regular year doesn’t automatically produce more basic CESG.

There may, however, be an important exception.

Started late? You may be able to catch up

This is something many parents don’t realize.

 

Unused basic CESG room can carry forward.

 

Suppose you have a 9-year-old child and haven’t contributed to an RESP for several years.

 

You haven’t necessarily lost all of those years of grant opportunity.

 

When unused grant room exists, an eligible beneficiary can generally receive up to $1,000 of basic CESG in one year, rather than the usual $500. That could mean contributing as much as $5,000 in a year to use the current year’s basic grant opportunity plus unused room from a previous year.

Example: two different families

Family A — starting early

 

They decide that $2,500 per year fits their budget.

Instead of waiting until December, they automate approximately $209 per month.

 

Over the year, they reach roughly $2,500 and may receive up to $500 in basic CESG.

 

Family B — starting later

 

Their child is older and has unused CESG room.

 

Depending on their situation, they decide to contribute approximately $5,000 during the year.

 

That may allow them to receive up to $1,000 in basic CESG and gradually catch up on previous unused room.

 

The important word is gradually.

 

You generally cannot catch up on many years of basic CESG simply by making one very large contribution in a single year.

An important rule for parents of teenagers

If your child is already approaching 15, timing becomes particularly important.

 

For a 16- or 17-year-old to continue qualifying for CESG, certain minimum contributions generally need to have been made before the end of the calendar year in which the child turns 15.

 

There are specific tests based on either prior total contributions or contributions made during multiple earlier years.

 

This is one of those situations where waiting another year can materially change the available strategy.

 

If your child is approaching that age and you haven’t started an RESP yet, this is worth reviewing sooner rather than later.

Some families may qualify for money without contributing anything

Another often-overlooked program is the Canada Learning Bond (CLB).

 

Eligible children from lower-income families may receive up to $2,000 through the CLB.

 

Most importantly:

Parents do not need to make personal RESP contributions to qualify for the CLB.

 

Eligibility is based on factors including family income, residency and the child’s SIN.

 

For some families, simply opening the right RESP and applying for available benefits can unlock education savings they may not have known existed.

A special opportunity for B.C. families

Families living in British Columbia should also be aware of the B.C. Training and Education Savings Grant (BCTESG).

 

Eligible children may receive a one-time $1,200 grant deposited into an RESP.

 

The child and parent or guardian must generally be B.C. residents, and the application window runs from the child’s 6th birthday until the day before the child turns 9.

 

No personal contribution is required to receive the BCTESG.

 

That’s an important deadline because once the eligibility window closes, the opportunity can be lost.

 

Pro Tip for B.C. parents: If you have a child between 6 and 8 years old, check whether the BCTESG has already been received. Don’t simply assume that having an RESP means the provincial grant was automatically added.

RESP or TFSA: why not simply save the money elsewhere?

We hear variations of this question regularly.

 

A TFSA is an excellent savings vehicle, but it serves a different purpose.

 

 

The better question isn’t:

“Which account is better?”

 

It is:

“What are we trying to accomplish with this money?”

 

For a family specifically saving for a child’s education, the government grants available through an RESP can be an important consideration.

 

But flexibility matters too.

 

Depending on the family’s goals, cash flow, available TFSA room, the child’s age and how certain the education objective is, these accounts may sometimes be used together rather than viewed as competitors.

 

This is where planning becomes more useful than simply choosing an account.

Opening the RESP is only the first decision

An RESP is an account structure.

 

It isn’t, by itself, an investment strategy.

 

A child who is two years old has a very different time horizon from a child who will start university next September.

 

That matters.

 

When education is many years away, a family may have more time to tolerate normal investment-market fluctuations.

 

As the education date approaches, protecting money that may soon be needed becomes increasingly important.

 

This is why an RESP strategy should ideally evolve with the child.

Questions worth reviewing periodically include:

 

  • How many years remain until the money will be needed?
  • How much has already been saved?
  • How much CESG remains available?
  • Has the family’s monthly cash flow changed?
  • Has the child’s likely education timeline changed?
  • Is the investment risk still appropriate for the remaining timeframe?

 

The strategy that made sense when your child was three may not be the strategy you want when they are seventeen.

The part many families overlook: withdrawing from the RESP

Families understandably spend years thinking about how to put money into an RESP.

 

Far fewer think ahead about how the money will eventually come out.

 

That can be just as important.

RESP money essentially contains different buckets.

 

Bucket 1 — Your contributions

The money originally contributed by the subscriber can generally be withdrawn tax-free.

 

Bucket 2 — Government benefits and investment earnings

Government incentives plus accumulated investment earnings are generally paid to the student as Educational Assistance Payments (EAPs).

 

EAPs are taxable income to the student and are reported on a T4A.

Because many students have relatively modest taxable income while studying, the actual tax can sometimes be limited.

 

But that doesn’t mean withdrawal planning should be ignored.

Why withdrawal strategy matters

Consider two families with the same RESP balance.

 

Scenario A — Student begins full-time university

During the first 13 consecutive weeks of a qualifying full-time program, EAP withdrawals are generally limited to $8,000.

 

Once those first 13 consecutive weeks have been completed and the student remains eligible, that initial EAP limit generally no longer applies.

 

That creates planning questions such as:

  • How much should come from EAPs?
  • How much should come from original contributions?
  • Does the student have employment or other taxable income this year?
  • Should some RESP money be used this calendar year and some in the next?

Scenario B — Student attends part-time

For qualifying part-time studies, EAPs are generally limited to $4,000 per 13-week period.

The withdrawal strategy can therefore look quite different.

And those are only two scenarios. 

What if your child studies outside Canada?

An RESP isn’t necessarily limited to Canadian universities.

 

Eligible education outside Canada may also qualify.

 

For foreign universities, qualifying programs can generally be as short as three consecutive weeks. For other foreign colleges or educational institutions, the program generally needs to last at least 13 consecutive weeks.

 

The educational institution, program and enrolment still need to satisfy the applicable rules, so it’s worth confirming eligibility before assuming RESP funds can be accessed.

What if the child doesn’t go to university?

This is another reason parents sometimes hesitate to open an RESP.

“What happens if my child doesn’t go to school?”

 

First, RESP eligibility is broader than university.

 

Qualifying education can include colleges, trade schools, apprenticeship programs and other eligible post-secondary programs.

 

And families generally have several options if the original beneficiary doesn’t immediately pursue post-secondary education.

 

Depending on the plan and circumstances, options may include:

  • Keeping the RESP open for possible future studies
  • Changing the beneficiary
  • Using certain funds for an eligible sibling
  • Transferring eligible accumulated income to another registered plan when the
  • conditions are met
  • Closing the RESP

 

RESPs can generally remain open for up to 35 years, which creates considerably more flexibility than many parents realize.

What happens if the RESP is eventually closed?

This is where understanding the different buckets becomes important again.

 

Generally:

Your original contributions can be returned without tax.

Unused government grants usually need to be returned to the appropriate government unless the rules permit them to be used by another eligible beneficiary.

Investment earnings may become an Accumulated Income Payment (AIP).

 

An AIP is generally included in the subscriber’s taxable income and is subject to an additional 20% tax—12% for Quebec residents.

 

Under certain conditions, up to $50,000 of accumulated income may instead be transferred to an RRSP or certain other registered plans, provided the necessary conditions and available contribution room are satisfied.

 

So the answer to “what if my child doesn’t go to school?” is rarely simply: “You lose the money.”

 

The real answer is: It depends on what portion of the RESP we’re talking about and what options are available at that time.

The RESP is really a long-term strategy

Opening an RESP is relatively straightforward.

 

Managing one effectively over 15 or 20 years requires more thought.

 

There are several decisions along the way:

 

When the child is young

  • How much should we contribute?
  • Monthly or annually?
  • Are we receiving the grants we’re eligible for?
  • What level of investment risk fits the timeline?

As the child gets older

 

  • Do we have unused CESG room?
  • Are we on track for expected education costs?
  • Should investment risk change as school approaches?

When school begins

  • Is the program eligible?
  • Full-time or part-time?
  • Canada or abroad?
  • How should EAPs and contributions be withdrawn?
  • How does the student’s other income affect the withdrawal plan?

 

This is why we don’t view an RESP as simply an account to open and forget.

 

It is part of a family’s broader financial plan.

A useful RESP check-in for parents

If you already have an RESP, consider asking yourself:

 

  • Do I know how much CESG my child has received?
  • Do I know whether unused CESG room exists?
  • Am I contributing intentionally or simply whenever I remember?
  • If I’m in B.C., did my child receive the $1,200 BCTESG?
  • Has my investment strategy changed as my child gets closer to school?
  • Do I understand how RESP withdrawals will eventually be taxed?
  • If my child starts post-secondary this year, do I have a withdrawal strategy?

 

If you couldn’t confidently answer several of those questions, that doesn’t necessarily mean anything is wrong.

 

It may simply mean the plan deserves a review.

Final Thought

Saving for a child’s education is rarely one single financial decision.


It’s a series of decisions made over many years.


The RESP can be an extremely useful part of that process—not only because of the opportunity to save, but because eligible families may benefit from government grants and years of sheltered investment growth.


But the greatest value often comes from having a strategy:

how much to contribute, how to catch up when necessary, how investment risk should evolve, and eventually how to withdraw the funds thoughtfully.


At Merits Wealth, we help families look at those pieces together.


If you already have an RESP and aren’t sure whether you’re making full use of the available opportunities—or if you’ve been meaning to start one but aren’t sure where to begin—this is something worth discussing.


Sometimes the most useful first step isn’t opening an account.


It’s understanding the plan.

Jessica Silva

Accountant | Bookkeeper | Corporate Tax Expert

I’m a detail-oriented and results-driven accounting professional with over 19 years of experience supporting small and medium-sized businesses in both Brazil and Canada. My background spans leadership roles, entrepreneurship, and hands-on expertise in financial operations and tax compliance.

 

I hold a Bachelor’s degree in Accounting and another in Business Administration with a focus on Marketing, along with post-graduate diplomas in Project Management and Accounting earned here in Canada.

 

At Merits Group, I specialize in corporate tax returns (T2), GST/HST/PST filings, bookkeeping, and both month-end and year-end financial closings. I take pride in delivering high-quality results without rework — precision and reliability are at the heart of everything I do. My goal is always to exceed client expectations.

 

Fluent in both Portuguese and English, I combine strategic thinking with clear communication, making me a dependable and insightful partner for businesses seeking accurate and trustworthy accounting support.

Bruna Cavalcante

Co-Founder | Office & Payroll Manager | Personal Tax Return Specialist

I’m Bruna, one of the co-founders of our firm, and I’m proud to be the heartbeat of our internal operations. My goal is to ensure that everything runs smoothly so our team can focus on providing excellent services to you. With a strong background in office management, payroll, and HR, I bring a unique blend of organization and a people-first mindset to my work. I earned my Bachelor’s degree in Psychology and completed a Human Resources Management certification in Canada.

 

With over three years of experience in recruitment in Brazil, along with administrative roles in Canada, I’ve developed the skills to create processes that are both efficient and effective.

 

I’m truly passionate about helping customers feel happy and confident. Whether it’s through precise payroll management, personal tax returns, or simply clear communication, I’m here to make your experience as smooth as possible.

Victor Rodrigues

Financial Advisor | Life Insurance Advisor | Personal Tax Expert

I’m Victor, and I bring over 15 years of experience in financial services, including a decade in management roles. My focus is on personal tax planning, financial planning, and investment strategies. I help both business owners and individuals make informed decisions to maximize their investments while minimizing tax liabilities.

 

I hold a Post Degree in Business and have completed the Canadian Securities Course, along with licensing in LLQP and Accident & Sickness Insurance (A&S). These qualifications allow me to offer comprehensive financial and insurance solutions tailored to each client’s needs.

 

I believe in an educational and transparent approach. Every interaction should leave my clients feeling more informed and empowered to make confident financial decisions. I am passionate about providing recommendations that truly serve my clients’ best interests and am dedicated to their success.

 

As a bilingual professional fluent in Portuguese and English, I can effectively connect with a diverse range of clients. When I’m not working with clients, I spend time expanding my knowledge by staying updated on economic news and investment strategies. Outside of work, my top priority is enjoying quality time with my wife and two children.

Lucas Santos

Founder & CEO, Strategic Financial Leader, Accountant and Tax Expert

I’m Lucas Santos. With nearly 20 years in accounting and finance, I help small and medium‑sized businesses in Canada and Brazil improve cash flow, tighten controls and turn financial information into practical strategies for growth. I have a Bachelor’s degree in Accounting, a Business Administration certificate, and I completed the CPA PREP process in Canada — qualifications that support a hands‑on, technical approach.

 

My core services include budgeting, cash‑flow forecasting, management reporting and compliance. Rather than producing reports that sit on a shelf, I focus on actionable insights: identifying margin leaks, simplifying processes with automation and setting up clear KPIs so owners can measure progress. I’ve helped clients streamline month‑end, improve forecasting accuracy and make quicker, more profitable decisions.

 

Bilingual in English and Portuguese, I translate technical finance into straightforward guidance tailored to each business. Outside work, I enjoy activities that sharpen strategic thinking and problem-solving — the same skills I bring to supporting clients’ financial growth.

Tax Preparation and Filing

At Merits Group, we take the stress out of tax declaration season by

handling your personal income tax return from start to finish. Whether you’re employed, self-employed, retired, or receiving multiple income sources, we gather all your relevant documents, such as T4s, receipts, and expense records, and prepare your tax return and tax filing with precision. Our goal is to ensure you’re paying only what you owe and potentially getting money back through eligible deductions and credits. From GST/HST credits to Canada Child Benefits, we help you claim what you’re entitled to. With Merits Group, you get a clear, confident path to your tax filing so you can focus on what matters most.

Starting at CAD $90.00

Get started now!

Personal Extended Health Insurance

Term life insurance and critical illness insurance are essential tools for

protecting your loved ones and your financial future. At Merits Group, we help you find the best coverage for your needs. We guide you through your options so you can choose a policy that fits you and your budget. Term life insurance pays a tax-free lump sum to your beneficiaries if you pass away during a set term, helping them manage expenses like mortgage payments and daily living costs. Critical illness insurance provides a lump sum if you’re diagnosed with a serious condition, giving you financial flexibility during recovery. With Merits, you get expert advice, personalized support, and peace of mind, without overpaying or getting overwhelmed.

Book now!

Personal Wealth Management Accounts

Wealth management accounts are long-term savings and investment tools designed to help you grow and protect your financial future.

At Merits Group, we act as independent consultants, helping you choose the right wealth accounts based on your goals, risk tolerance, and tax strategy. Whether you’re planning for retirement, seeking tax-efficient growth, or building a diversified portfolio, we guide you toward transparent, growth-focused solutions. With expert support from a trusted financial advisor, we also prioritize financial literacy and money management, empowering you to make informed decisions that align with your long-term financial vision. Our team compares options from trusted providers to ensure your wealth management strategy is built for lasting success.

Book now!

Personal Term Life Insurance and Critical Illness Insurance

Insurances are essential tools for protecting your loved ones and securing your financial future, and at Merits Group, we help you find the coverage that fits your needs and budget.

With expert guidance from a trusted financial advisor, we make sure you understand your options and feel confident in your decisions. Term life insurance pays a tax-free lump sum to your beneficiaries if you pass away during a set term, helping them manage expenses like mortgage payments and daily living costs. Critical illness insurance provides a lump sum if you’re diagnosed with a serious condition, offering financial flexibility during recovery. With Merits, you get personalized support and peace of mind, without overpaying or getting overwhelmed.

Book now!

Travel Insurance

Travel insurance is essential for protecting your health and finances

 while you’re away from home. Whether you’re vacationing, studying abroad, or visiting family, Merits Group offers personalized travel insurance plans that go the distance. Our coverage helps safeguard you against unexpected medical emergencies, trip cancellations, lost baggage, and travel disruptions—so you can explore with confidence. With flexible options and expert guidance, we match you with the right plan for your destination, duration, and travel style. Travel insurance isn’t just a precaution, it’s peace of mind across borders. 

Book now!

Personal Debt Consolidation

Debt consolidation is a powerful financial strategy that helps you take

control of multiple debts, such as credit cards, personal loans, and lines of credit, by combining them into a single, manageable loan. Instead of juggling several payments with varying interest rates and due dates, you’ll make one simplified monthly payment, often at a lower interest rate. The result? Less stress, more savings, and a clearer path to financial freedom. At Merits, we specialize in smart, personalized debt consolidation solutions tailored to your unique financial situation. Whether you’re struggling with high-interest credit cards or overwhelmed by multiple loan payments, our expert advisors are here to help.

Book now!

Investment Accounts - RRSP, TFSA & FHSA

Investment accounts such as RRSPs, TFSAs, and FHSAs offer Canadians a powerful way to grow their wealth

while benefiting from tax advantages and long-term financial flexibility. Whether you’re saving for retirement, a first home, or simply building a diversified portfolio, choosing the right mix of investments within these accounts is key, and that’s where expert financial advice makes all the difference. At Merits Group, our experienced financial advisors and investment advisors provide personalized guidance tailored to your goals, risk tolerance, and life stage. With a client-first approach and deep knowledge of investment strategies, we help you navigate your options confidently and make informed decisions that support your financial futur

Book now!

Tax Advocacy and CRA Support

When the Canada Revenue Agency (CRA) reaches out, whether it’s a surprise CRA audit, or a confusing letter, it can feel overwhelming.

That’s where we come in. Our CRA support service is designed to take the pressure off you by handling all communications with the CRA on your behalf. We know their language, their processes, and how to advocate for your rights. At Merits Group, we provide strategic tax support to help you respond accurately and confidently. Let us be your voice with CRA Canada, so you can focus on what matters most.

Starting at CAD $100.00 (30 min)

Request your service

CCB Application

If you’re a parent or guardian of children under 18, you may be eligible

for the CCB (Canada Child Benefit), a tax-free monthly payment from the Government of Canada that helps families manage the cost of raising kids. At Merits Group, our experienced accountants offer specialized accounting services designed to simplify your CCB application. From reviewing eligibility to organizing documents, we handle this entire process with care and precision. Whether you’re a new parent, newcomer to Canada, or facing changes in custody or income, our team ensures your application is accurate and timely, so your family receives the government benefits it deserves, without the stress.

Starting at CAD $300.00

Request your service
Becoming a freelancer or self-employed professional means wearing a

lot of hats, but bookkeeping doesn’t have to be one of them. Whether you’re a freelancer, contractor, or self-employed, we help you stay organized and stress-free by managing your financial records with precision and clarity. Our accounting services include tracking income, expenses, invoices, and receipts in real time, giving you a clear view of your cash flow and profitability. Designed to keep you compliant with CRA requirements, our bookkeeping simplifies your tax filing and helps you make smarter financial decisions throughout the year. From GST/HST tracking to preparing your records for Form T2125, we make sure everything is ready when tax season arrives.

Bookkeeping for Self-Employed & Freelancers

Starting at CAD $200.00

Request your service

Tax Consulting

Navigating Canadian taxes can be complex, especially

when dealing with foreign income, residency questions, or dual taxation concerns. Merits Group offers specialized tax consulting services tailored to immigrants and newcomers, helping you understand your obligations and stay compliant with CRA requirements. Whether you’re settling permanently or managing cross-border finances, our experienced accountants provide personalized guidance on tax preparation, filing, and available credits or deductions. We simplify the process so you can focus on building your future in Canada with clarity and peace of mind.

Starting at CAD $100.00 (30 min)

Book now!

CFO Advisory

Our CFO advisory service gives small and mid-sized businesses clear financial direction.

We set profit and cash targets, perform a monthly business assessment, deliver a concise scoreboard of key metrics, and provide a monthly action plan — plus ongoing access for questions and guidance. The result: fewer surprises and steady, measurable improvement.

Request your service

Business Extended Health Insurance

Extended Health Insurance helps cover essential medical services that

aren’t included in Canada’s provincial healthcare plans. This includes costs for prescription drugs, dental care, vision exams, physiotherapy, massage therapy, and mental health support—expenses that can add up quickly, especially for families or individuals managing chronic conditions. At Merits Group, we act as independent consultants, guiding you through the best extended health insurance options from trusted providers. We help you find coverage that’s comprehensive, cost-effective, and tailored to your lifestyle, so you’re not left paying out-of-pocket for services your health depends on. Whether you’re self-employed, between group plans, or simply want more protection, we make sure your well-being is fully supported, beyond the basics.

Book now!

Business Wealth Accounts

Wealth Accounts allow businesses to grow extra savings or reinvest

profits in a structured, tax-aware way, fuelling expansion, employee benefits, or retirement plans. At Merits, we’ll help you set up savings or investment accounts with a business focus—whether it’s for expansion, retirement, or bonus reserves. We guide the setup and management every step of the way.

Book now!

Business Term Life Insurance & Critical Illness Insurance

Business owners can protect the company from financial harm if a key

person dies or becomes seriously ill. Term Life Insurance and Critical Illness Insurance also helps with succession planning, shareholder agreements, or staff benefits. At Merits, we help businesses set up insurance packages that protect key personnel, shareholders, and families, strengthening the backbone of your company.

Request your service

Business Investments

Safeguarding your business assets and planning for the future requires smart, strategic decisions, and Merits Group is here to guide you through them.

Our team of expert financial advisors delivers tailored financial advice to help you protect retained earnings, diversify business investments, and reduce risk. Through insurance-based investment solutions like segregated funds, which offer market growth potential along with death, maturity, and possible creditor protection, we support your long-term goals with clarity and confidence. Whether you’re working with an investment advisor or exploring new ways to strengthen your corporate portfolio, Merits Group ensures every move is informed, compliant, and aligned with your vision.

Book now!

Business Consultation

From cash flow management and budgeting to pricing analysis and forecasting, our business consultation service delivers intelligent business solutions that support growth and stability. Whether you’re navigating small business finance challenges or scaling operations, Merits provides the insight and structure you need to make smarter financial moves.

Starting at CAD $100.00 (30 min)

Book now!

Business Registration, Changes & Dissolution

Starting, changing, or ending a business involves critical legal steps, and Merits is your trusted partner for all of them.

We specialize in business registration and changes, guiding entrepreneurs through the process of business registration, completing incorporation filings, and securing name registration with ease. Whether you’re launching a new venture, making changes to an existing one, or preparing to close your business down, we ensure every detail of your business registration is handled properly. For those navigating business registration in Canada, our team provides expert support to help you stay compliant and confident. And when it’s time to move on, we simplify the dissolution process—managing legal filings, settling obligations, and protecting you from future liabilities—so you can focus on what’s next without worry.

1,500.00 (Gov. fess included) - AB, BC, ON

Book now!

Personal Tax Preparation and Tax Filing

At Merits Group, we take the stress out of tax declaration season by handling your personal income tax return from start to finish.

Whether you’re employed, self-employed, retired, or receiving multiple income sources, we gather all your relevant documents, such as T4s, receipts, and expense records, and prepare your tax return and tax filing with precision. Our goal is to ensure you’re paying only what you owe and potentially getting money back through eligible deductions and credits. From GST/HST credits to Canada Child Benefits, we help you claim what you’re entitled to. With Merits Group, you get a clear, confident path to your tax filing so you can focus on what matters most.

Starting at CAD $90.00

Get started now!

Corporate Taxes

All registered businesses must file taxes annually. At Merits, we prepare

and file your business’ annual tax returns meeting CRA requirements while helping you minimize liabilities. We’ll calculate what your company owes, find ways to reduce tax legally, and ensure the filing is accurate and on time. Strategic planning, full transparency, and timely filing guaranteed.

Starting at CAD $1,200.00

Request your service

Business Payroll

From precise calculations and CRA remittances to T4 preparation and reporting, we handle the entire business payroll cycle with accuracy and efficiency. Our expert team ensures your staff are paid correctly and on time, while keeping your operations fully compliant with regulations governing payroll in Canada. With our reliable payroll services, you gain peace of mind, save valuable time, and stay focused on growing your business.

Starting at CAD $150.00

Request your service

Business Bookkeeping

At Merits Group, we specialize in business bookkeeping, ensuring that every transaction is accurately recorded and reconciled, giving you a clear picture of your business’ financial health.

We handle the day-to-day details so you don’t have to, keeping your books clean, compliant, and ready for whatever comes next. Whether you’re preparing for business tax season or planning for future growth, our team supports your business finance goals with precision and insight, helping you stay ahead of deadlines and avoid costly errors. With our expertise in business accounting, you gain more than just tidy records – you gain a strategic partner committed to your long-term success. 

Starting at CAD $250.00

Request your service