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In-Trust Account

An In-Trust Account can be a great way to save for a child's post-secondary education. The investor, commonly known as the trustee, manages money or other assets for a child (the “beneficiary”) until the child reaches the age of majority. At that point, the trustee can make any necessary arrangements for the money to become available to fund the child's schooling.

There may be tax advantages too! With a properly structured account, your child may pay taxes on the growth or capital gain in an in-trust account. Since your child will probably have a lower taxable income than you, he or she could be taxed at a lower rate, and possibly pay no tax at all.

Key benefits of an In-Trust Account 
  • You can contribute as much money as you want
  • All capital gains may be taxed in the hands of the child
  • If funds for an in-trust account come solely from Child Tax Benefit payments or an inheritance, income is taxed in the hands of the child
  • Money stays in the hands of the child if he/she decides not to pursue a post-secondary education

You should know that, as the donor, you will be taxed on all income including interest, dividends, foreign, and other income if earned while you are a resident of Canada during the applicable year.



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