Additional amount of Canada Education Savings Grant - How much a child could receive
3. How much a child could receive
Based on a family’s adjusted income, the Additional amount of Canada Education Savings Grant (Additional CESG) provides an additional 10 or 20 percent on the first $500 of personal contributions to the Registered Education Savings Plan (RESP) for an eligible child. The Additional CESG is provided on personal contributions made up until the end of the calendar year in which the child turns 17.
The lifetime maximum of CESG, including Additional CESG, is $7,200.
Income levels example
A child named beneficiary in an RESP, born in 2014, from a family with an adjusted income of $32,000 could be eligible to receive the Basic amount of CESG (Basic CESG), plus Additional CESG of 20 percent
Year Age of child (RESP beneficiary) Contributions made into the RESP Contributions that qualify for the Basic CESG Contributions that qualify for the Additional CESG Basic CESG put into the RESP Additional CESG put into the RESP Total provided 2014 Newborn $2,500 $2,500 $500 $500 $100 $600 2015 1 year old $2,000 $2,000 $500 $400 $100 $500 2016 2 years old $3,000 $2,500 $500 $500 $100 $600 2014-2016 Subtotal N/A $7,500 $7,000 $1,500 $1,400 $300 $1,700
- Table summary – The total amount put into an RESP is $9,200 ($7,500 in contributions plus $1,700 in grants).
- Using the previous example, the following calculations can be used to determine the Canada Education Savings Grant that will be deposited into the RESP:
- ($2,500 + $2,000 + $2,500 = $7,000 in contributions that qualify for the Basic CESG) x 20% = $1,400
- (3 x $500 in contributions that qualify for the Additional CESG) x 20% = A payment of $300
- $1,400 (Basic CESG) + $300 (Additional CESG) = Total deposited into the RESP $1,700
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