The Government of Canada will match 20% of your annual contributions, up to $500 per beneficiary, to a lifetime total of $7,200. The Canada Learning Bond is a government contribution of up to $2,000 for low-income families. The government contributes $500 in the year the RESP is ...
The Government of Canada will match 20% of your annual contributions, up to $500 per beneficiary, to a lifetime total of $7,200. The Canada Learning Bond is a government contribution of up to $2,000 for low-income families. The government contributes $500 in the year the RESP is ...
Get Government Contributions Grow your savings faster with the Canada Education Savings Grant (CESG)1, Canada Learning Bond (CLB)2, and other government incentives. SeeRESP Grants and Bonds. Built-In Flexibility If the child doesn’t pursue post-secondary education, you may be able to choose a...
to the RESP can be matched by the federal government through the Canada Education Savings Grant (CESG). This grant matches 20% of your contributions up to $2,500 each year. An RESP can remain open for a maximum of 35 years, with a lifetime contribution limit of $50,000 per beneficiary...
They must have a Social Insurance Number (SIN) and be a resident of Canada. Investments in an RESP will grow tax-free, and may even qualify for government contributions like the Canada Education Savings Grant (CESG) and Canada Learning Bond (CLB)— free money toward the child’s education ...
The federal government may add up to a maximum of $500/year with the Canada Education Savings Grant (CESG), up to a lifetime maximum of $7200.The federal government may add up to a maximum of $500/year with the Canada Education Savings Grant (C E S G), up to a lifetime maximum ...
You contribute money into a child’s RESP. The government will then contribute an additional 20% on the first $2,500 contributed annually, up to a maximum of $500 a year. That can add up to $7,200 over the lifetime of the RESP, per child, in grant money through the Canada Educatio...
You contribute money into a child’s RESP. The government will then contribute an additional 20% on the first $2,500 contributed annually, up to a maximum of $500 a year. That can add up to $7,200 over the lifetime of the RESP, per child, in grant money through the Canada Educatio...
Your contributions can be supplemented by the federal government’s Canada Education Savings Grant (CESG). Unlike an RRSP, your contributions to an RESP aren’t tax-deductible but the investment income earned is tax-sheltered until withdrawn. Learn more about the benefits of an RESP How much ...
Learn what an RESP is and what are the rules and contribution limits to fund your children’s education using RESP. Contact BMO to know more about RESP.