Roland plans to establish a family RESP for the benefit of his two children and to maximize his contributions and available grants under the CESG program. Given this scenario, which of the following statements are true?

1. Contributions made into the plan are tax deductible by Roland's children. 2. Investment income is permitted to compound on a tax-sheltered basis while retained within the plan.

3. The withdrawal of contributions that are paid to Roland will not trigger any income tax consequence. 4. The withdrawal of any contributions that are paid to one of Roland's children will be treated as taxable income to the respective child.