I am a US Citizen thinking of moving to Canada. I have Education Savings Accounts (Coverdal) account with my son as beneficiary. Will I be able to use those funds for Nova Scotia Homeschooling expenses? Also, can I use them for canadian universities?
Finally, will the tax deferral be maintained in Canada ?
Education Savings Accounts
Moderator: Mark T Serbinski CA CPA
1. It is unlikley that the expenses related to home-schooling would be eligible. Talk to the program co-ordinators.
2. many Cdn universities are accredited. Again, you would nbeed to talk to someone at the school.
3. Tax deferral is not maintained.
2. many Cdn universities are accredited. Again, you would nbeed to talk to someone at the school.
3. Tax deferral is not maintained.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best