Notice #924 – Revised income brackets for the additional amount of Canada Education Savings Grant (Additional CESG) for 2022

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Information bulletin

Number:
CESP/PCEE-2021/22-007-924
Date:
December 06, 2021
Subject:
Revised income brackets for the additional amount of Canada Education Savings Grant (Additional CESG) for 2022

Previous bulletin

This notice updates information bulletin #887 dated December 11, 2020.

Purpose

To inform promoters and trustees that the income brackets used to determine the rate of payment for the Additional CESG have been indexed for 2022.

Background

The Additional CESG is subject to subsection 5(4) (a) of the Canada Education Savings Act which uses the adjusted income for an eligible individual to establish the first and second thresholds in order to calculate the Additional CESG. These amounts are indexed yearly based on inflation.

The Canada Revenue Agency has released the 2022 Indexation adjustment for personal income tax and benefit amounts. Due to this indexation adjustment, income brackets for the Additional CESG eligibility have been established for 2022.

Income brackets to determine the Additional CESG

The following table identifies the income brackets used to determine the rate of the Additional CESG on the first $500 or less of the Registered Education Savings Plan (RESP) contributions per beneficiary, per year.

Table 1: Income brackets to determine the Additional CESG
Year First threshold
(adjusted income bracket)
Rate of payment = 20%
Additional CESG
Second threshold
(adjusted income bracket)
Rate of payment = 10%
Additional CESG
2022 $0 to $50,197 Greater than $50,197 but not
more than $100,392
2021 $0 to $49,020 Greater than $49,020 but not
more than $98,040
2020 $0 to $48,535 Greater than $48,535 but not
more than $97,069

No change to the Basic CESG

Calculations for the Basic CESG remain unchanged at 20% of the RESP contributions per beneficiary, per year.

Updates to the RESP promoter resources

The RESP promoter resources will be updated on Canada.ca/RESPresources to reflect these changes in the near future.

Contact us

If you have any questions regarding this notice, please contact us:

  • by using our online contact page
  • by telephone at 1-888-276-3624
  • by e-mail at cesp-pcee@hrsdc-rhdcc.gc.ca

Our business hours are from 8 a.m. to 5 p.m., Eastern Time.

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