Government Grants
The best part of an RESP is the grant money!
To assist you in your efforts to save, the Government of Canada and the Government of Quebec supplement your savings with substantial grants deposited directly into your RESP.
You’ll be amazed to see how fast your savings add up with these grants.
Up to $12,800 per child within reach thanks to the RESP
($9,200 in New Brunswick)
Depending on your ajusted family net income and your contributions, your child could receive the following grants:
CESG
Canada Education Savings Grant
Every child is entitled to the basic 20% CESG.
Grant money is deposited directly into your child’s RESP account.
Annual limit of $500 per child.
The additional CESG is also offered to modest- and middle-income families.
10% or 20% (based on adjusted family net income).
Grant money is deposited directly into your child’s RESP account.
Annual limit of $100 per child.
Lifetime CESG limit is $7,200 per child
CLB
Canada Learning Bond
Grant offered to assist low-income families
$500 deposited at plan opening whether or not the parent makes contributions.
An additional $100 deposited each year of eligibility until the beneficiary’s 15th birthday.
Lifetime limit of $2,000
QESI
Quebec Education Savings Incentive
Every child in Quebec is entitled to the basic 10% QESI.
Grant money is deposited directly into your child’s RESP account.
Annual limit of $250 per child.
The additional QESI is also offered to modest- and middle-income families.
5% or 10% (based on adjusted family net income).
Grant money is deposited directly into your child’s RESP account.
Annual limit of $50 per child.
Lifetime QESI limit is $3,600 per child
All you have to do is open an RESP to receive grants! Kaleido takes care of everything else!
Calculate how much you could earn with your RESP easily.
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RESP Grants 101
We take care of applying for the grants on your behalf. When you open your plan and sign your contract, your representative will help you fill out the necessary application form(s). All we need is your social insurance number (SIN) and the SIN of your beneficiary.
If you are not the primary caregiver or custodial parent of the child for whom you wish to open an RESP, the primary caregiver or custodial parent has to complete Annex B of the CESG and CLB application form. Your representative will tell you everything you need to know.
This is the person who receives the Canada Child Tax Benefit, also known as the family allowance or baby bonus. The subscriber is therefore not necessarily the primary caregiver.
The grants to which the beneficiary is entitled are calculated based on the adjusted family net income of the child’s primary caregiver.
Every Canadian child is entitled to the basic 20% Canada Education Savings Grant (CESG), regardless of family income.
The additional CESG provides an extra grant of 10% or 20% to modest- and middle-income families.
Every child in Quebec is entitled to the basic 10% Quebec Education Savings Incentive (QESI), regardless of family income.
The additional QESI also provides an extra grant of 5% or 10% to modest- and middle-income families.
The Canada Learning Bond (CLB) is paid into the RESP of any child born after December 31, 2003, from a family who meets the financial criteria established by the federal government (families that formerly received the National Child Benefit Supplement).
Yes. Initially, the maximum contribution amount eligible for grants is $2,500 per year. This is the amount that allows you to maximize your grants.
Therefore, if you didn’t contribute during a given year, you can contribute up to $5,000 to maximize the grants for the current and previous year.
Download our short summary guide to learn all about the generous government grants associated with RESPs.
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