Matthew has established a family RESP where he is the sole subscriber for his son Zachary and Nathaniel who are 10 and 12 years of age. Which of the following statements are correct? Question 8 options: Matthew can withdraw his return of contributions which will be subject to tax The contributions to the RESP must be split equally between Nathaniel and Zachary Matthew can contribute up a lifetime amount of $50,000 into the plan Matthew has the right to name or change the beneficiaries of the RESP Matthew can withdraw his return of contributions which will be subject to tax The contributions to the RESP must be split equally between Nathaniel and Zachary Matthew can contribute up a lifetime amount of $50,000 into the plan Matthew has the right to name or change the beneficiaries of the RESP.

1. Matthew has established a family RESP where he is the sole subscriber for his son Zachary and
Nathaniel who are 10 and 12 years of age. Which of the following statements are correct?
Question 8 options:
Matthew can withdraw his return of contributions which will be subject to tax
The contributions to the RESP must be split equally between Nathaniel and Zachary
Matthew can contribute up a lifetime amount of $50,000 into the plan
Matthew has the right to name or change the beneficiaries of the RESP
Matthew can withdraw his return of contributions which will be subject to tax
The contributions to the RESP must be split equally between Nathaniel and Zachary
Matthew can contribute up a lifetime amount of $50,000 into the plan
Matthew has the right to name or change the beneficiaries of the RESP