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Start Saving Now for September: Your RESP Checklist Before the School Year Hits

  Canadian Money Brief · Family Finance September feels a long way off on July 1. That's exactly why now is the right time to look at your child's RESP — not in late August when the school supply list arrives and the grant math gets rushed. If you have a Registered Education Savings Plan (or you've been meaning to open one), here's what to check right now, and why the calendar year — not the school year — is what actually matters. Why July, Not August The Canada Education Savings Grant (CESG) — the government's 20% match on RESP contributions — runs on the calendar year , not the school year. Grant room for 2026 resets on a January-to-December basis, and it doesn't carry any special "back to school" deadline. But summer is genuinely the best time to check your numbers, for three reasons: You still have six full months left in the year to top up if you're behind. Contributions made now have more time to grow before your child needs the money. You av...
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Toyota Apologizes for Cheating on Vehicle Testing and Suspends Production of Three Models

 

Toyota Chairman Akio Toyoda has issued a public apology for extensive cheating on certification tests involving seven vehicle models. As a result, the automaker has suspended production of three affected models in Japan: the Corolla Fielder, Corolla Axio, and Yaris Cross. The wide-ranging faulty testing at Japan’s top automaker included several issues:

  1. Inadequate or Outdated Data: The testing process involved the use of inadequate or outdated data in collision tests.
  2. Airbag Inflation and Rear-Seat Damage: Incorrect testing procedures were applied to airbag inflation and rear-seat damage in crashes.
  3. Falsified Engine Power Tests: Engine power tests were found to have been falsified.

Despite these irregularities, Toyota emphasizes that the safety of vehicles already on the roads, including the Corolla subcompact and Lexus luxury vehicles, remains unaffected. The company’s apology reflects its commitment to maintaining high standards and rectifying any lapses in quality assurance.

The Japanese government initiated an investigation into Toyota’s practices in January, leading to the recent revelations. Interestingly, Toyota’s overseas production is not implicated in these issues. However, Japanese rival Mazda Motor Corp. also reported similar irregular certification testing and halted production of two models: the Roadster and Mazda . Mazda attributed its problems to incorrect engine control software used during testing.

Honda Motor Co., another major Japanese automaker, also apologized for improper tests on noise levels and torque. These tests affected a range of models, including the Accord, Odyssey, and Fit, although the safety of these vehicles remains intact.

The recent challenges faced by Toyota and other automakers underscore the importance of rigorous testing and quality control. As the industry evolves, automakers must continue to prioritize safety and transparency, ensuring that their vehicles meet the highest standards for consumers worldwide.


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