Understanding Halal RESPs: Planning for Your Child’s Higher Education
Investing in a RESP is a great way to access free money from the government for your child’s education. But it can also be Halal! Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
Understanding Halal RESPs: Planning for Your Child’s Higher Education
Investing in a RESP is a great way to access free money from the government for your child’s education. But it can also be Halal! Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
Understanding Halal RESPs: Planning for Your Child’s Higher Education
Investing in a RESP is a great way to access free money from the government for your child’s education. But it can also be Halal! Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
What is a RESP?
RESPs are tax-advantaged accounts designed to help Canadians save for higher education. RESP funds can be invested in countless ways and if they are spent on higher-education related tuition or expenses, no investment gains in the account will be subject to income taxes.**
What is a RESP?
RESPs are tax-advantaged accounts designed to help Canadians save for higher education. RESP funds can be invested in countless ways and if they are spent on higher-education related tuition or expenses, no investment gains in the account will be subject to income taxes.**
What is a RESP?
RESPs are tax-advantaged accounts designed to help Canadians save for higher education. RESP funds can be invested in countless ways and if they are spent on higher-education related tuition or expenses, no investment gains in the account will be subject to income taxes.**
What makes a RESP Halal?
A RESP is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it Halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments, such as the OneVest Halal Portfolios, then your investment is Halal.**
What makes a RESP Halal?
A RESP is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it Halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments, such as the OneVest Halal Portfolios, then your investment is Halal.**
What makes a RESP Halal?
A RESP is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it Halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments, such as the OneVest Halal Portfolios, then your investment is Halal.**
Integrity
Halal Certified RESP's
Investment fund and portfolio management services are provided by OneVest. All portfolio holdings and performance data are sourced from OneVest. These Shariah compliance certificates issued by Manzil's Shariah Supervisory Board ensure that Manzil's Invest Portfolios, products and services comply with the Shariah standards set by AAOIFI.
Integrity
Halal Certified RESP's
Investment fund and portfolio management services are provided by OneVest. All portfolio holdings and performance data are sourced from OneVest. These Shariah compliance certificates issued by Manzil's Shariah Supervisory Board ensure that Manzil's Invest Portfolios, products and services comply with the Shariah standards set by AAOIFI.
Integrity
Halal Certified RESP's
Investment fund and portfolio management services are provided by OneVest. All portfolio holdings and performance data are sourced from OneVest. These Shariah compliance certificates issued by Manzil's Shariah Supervisory Board ensure that Manzil's Invest Portfolios, products and services comply with the Shariah standards set by AAOIFI.
The benefits of a Halal RESP
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
01
Free government money
The federal government adds to RESP savings each year through the Canada Education Savings Grant. They will match 20% of the annual contribution, up to a lifetime maximum of $7,200 per child.
02
RESP savings grow tax-free
No taxes are paid on any investment earnings as long as they stay in the RESP account. That means that savings can grow faster.
03
Avoid interest based student loans
The money that is put in a RESP account gets invested into the Halal Portfolios to save for the child’s education. This will help the child avoid interest-based student loans in the future.
04
Friends and family can contribute
Anyone can set up an individual RESP for a child – not just the parent. A child’s RESP can grow more quickly with contributions from friends and family.
The benefits of a Halal RESP
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
01
Free government money
The federal government adds to RESP savings each year through the Canada Education Savings Grant. They will match 20% of the annual contribution, up to a lifetime maximum of $7,200 per child.
02
RESP savings grow tax-free
No taxes are paid on any investment earnings as long as they stay in the RESP account. That means that savings can grow faster.
03
Avoid interest based student loans
The money that is put in a RESP account gets invested into the Halal Portfolios to save for the child’s education. This will help the child avoid interest-based student loans in the future.
04
Friends and family can contribute
Anyone can set up an individual RESP for a child – not just the parent. A child’s RESP can grow more quickly with contributions from friends and family.
The benefits of a Halal RESP
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
01
Free government money
The federal government adds to RESP savings each year through the Canada Education Savings Grant. They will match 20% of the annual contribution, up to a lifetime maximum of $7,200 per child.
02
RESP savings grow tax-free
No taxes are paid on any investment earnings as long as they stay in the RESP account. That means that savings can grow faster.
03
Avoid interest based student loans
The money that is put in a RESP account gets invested into the Halal Portfolios to save for the child’s education. This will help the child avoid interest-based student loans in the future.
04
Friends and family can contribute
Anyone can set up an individual RESP for a child – not just the parent. A child’s RESP can grow more quickly with contributions from friends and family.
Ready to open your Halal RESP with OneVest?
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
Ready to open your Halal RESP with OneVest?
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
Ready to open your Halal RESP with OneVest?
Manzil Invest - Investment fund and portfolio management services are provided by OneVest.*
Homes
See the features and benefits of our Halal Musharaka financing options and determine which one is best for you.
Invest
Halal investing opportunities that align with your beliefs as a Muslim, in partnership with OneVest. Transfer existing investments or open a new account.
Wills
In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Discover other Manzil Products
Discover
Discover other Manzil Products
Discover
Homes
See the features and benefits of our Halal Musharaka financing options and determine which one is best for you.
Invest
Halal investing opportunities that align with your beliefs as a Muslim, in partnership with OneVest. Transfer existing investments or open a new account.
Wills
In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Homes
See the features and benefits of our Halal Musharaka financing options and determine which one is best for you.
Invest
Halal investing opportunities that align with your beliefs as a Muslim, in partnership with OneVest. Transfer existing investments or open a new account.
Wills
In 20 minutes or less, create Islamic Will documents online and have legally-secure, Shariah Compliant documents in preparation for when you die.
Discover other Manzil Products
Discover
Disclaimers:
*Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”) OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your OneVest accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). OneVest is a wholly-owned subsidiary of OneVest Technologies Inc. All trademarks are the property of their respective owners. OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Disclaimers:
*Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”) OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your OneVest accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). OneVest is a wholly-owned subsidiary of OneVest Technologies Inc. All trademarks are the property of their respective owners. OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Disclaimers:
*Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”) OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your OneVest accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). OneVest is a wholly-owned subsidiary of OneVest Technologies Inc. All trademarks are the property of their respective owners. OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
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