Government of Canada RESP Grants | Mackenzie Investments

Government of Canada RESP Grants

Saving for a child’s education is one of the most important financial goals that a parent can have. The Government of Canada offers grants to enhance a child’s RESP. Here is what you could expect to receive if you are eligible: 

$500

 

Amount is based on a $2,500 annual contribution

Basic Canadian Education Savings Grant (CESG)

Not conditional on family income. There is a lifetime maximum CESG amount of $7,200 per beneficiary. 

 

$100

 

This applies to the first $500 annual contribution

Additional CESG

This amount is only available to families with income (2016) of less than $45,282. Additional CESG counts towards the lifetime maximum CESG amount of $7,200 per beneficiary.

 

$500

 

Initial grant

Canada Learning Bond

The lifetime maximum amount per beneficiary is $2000 (initial $500 + $100/year for 15 years). This amount does not affect the lifetime maximum CESG of $7,200. The beneficiary’s family must continue to receive the National Child Benefit Supplement to be eligible.

 

Find out more

Speak to your financial advisor for more information about RESPs and investing with Mackenzie Investments.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.