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Q: Is there any age restriction for child when claiming the SSPN tax relief?

A: The parents can open an SSPN account as soon as the child is born. However, the account has to be converted to be under the child’s name when the child turns 29 years old. At that time, the parents cannot claim the relief anymore.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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