Here are the types of transactions you'll see in the Activity page:

  • Contribution: This is the money you've added to your plan.
  • Grant Received: These are the grants that have been added from the federal or provincial governments. Nice to see, right?
  • CLB Fee Reimbursement: An additional $25 payment made by the Federal Government to Plans eligible for the Canada Learning Bond (CLB).
  • RESP Transfer In: If you transferred your plan from another RESP provider to CST Spark, this is the amount you transferred.
  • Contribution Withdrawal: This is the amount you've withdrawn from your initial contributions. We recommend you only withdraw contributions after the student is enrolled in an eligible post-secondary program and has begun to withdraw Education Assistance Payments (EAPs). After that, you get to decide what to do with your original contributions. Save for retirement, plan a trip... the possibilities are endless!
  • Education Assistance Payment: This is a payment that includes the government grants and some of the income earned in the plan. Once enrolled in an eligible post-secondary program, the student can spend EAPs on tuition, a new laptop, and even late-night-study-session tacos!
  • Contribution Balance Payment: When the student takes out an Education Assistance Payment, the Contribution Balance Payment represents the money you can take out and spend as you wish, without incurring any tax penalties or having to pay back government grants.
  • Accumulated Income Payment: This is paid to you, the plan's subscriber, if the child doesn't enrol in post-secondary education. This is the investment income/earnings you've earned on your original contributions (yay!), but it's money that's taxable (boo!). The good news is you can avoid taxes by putting this money into your RRSP if you have contribution room. If you take an AIP, your account must be closed by December 31 of the following year.
  • Withdrawal Other: This is a type of withdrawal not listed above. Please contact us and we can have a look at your plan and give you details about this particular withdrawal.
  • RESP Transfer Out: This is the money you've transferred from the plan to another RESP provider.
  • Fee: You may be charged a fee for certain requests, such as for requesting a paper version of an Annual Client Statement. If you're not sure why you've been charged a fee, just reach out and we'll happily look into it for you.

Introduce your friends to CST Spark! 

Whether you love how easy we make it to manage your RESP online or get government grants, let your friends in on the benefits of a CST Spark RESP too.