Canada Education Savings Grant (CESG) – How much a child could get
From: Employment and Social Development Canada
3. How much a child could get
Each year, the CESG provides 20% of the Registered Education Savings Plan (RESP) contributions of up to $2,500. That means the CESG can add a maximum of $500 to an RESP each year.
Children from middle- and low-income families might be eligible to get the Additional amount of CESG. If eligible, that means an extra 10% or 20% is added to the first $500 contributed to an RESP each year.
The Additional amount of CESG may be:
- up to $100 if the 2022 adjusted income is $50,197 or less ($500 x 20% = $100)
- up to $50 if the 2022 adjusted income is greater than $50,197 and up to $100,392 ($500 x 10% = $50)
The maximum amount of CESG, including the Additional amount, a child can get is $7,200.
Income levels example
A child named as the beneficiary in an RESP, who is born in 2014 and from a family with an adjusted income of $32,000, could be eligible to get the CESG, plus an additional amount of CESG of 20%.
Table 1: Income levels example
Year | Age of child (RESP beneficiary) | Contributions made to the RESP | Contributions that qualify for the CESG | Contributions that qualify for the Additional amount of CESG | CESG put in the RESP | Additional amount of CESG put in 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 year old | $3,000 | $3,000 | $500 | $600 | $100 | $700 |
2014-2016 Subtotal | N/A | $7,500 | $7,500 | $1,500 | $1,500 | $300 | $1,800 |
Table summary – The total amount put in an RESP is $9,300 ($7,500 in contributions plus $1,800 in grants).
Using the previous example, the following calculations can be used to determine the CESG that will be deposited in the RESP:
- ($2,500 + $2,000 + $3,000 = $7,500 in contributions that qualify for the CESG) x 20% = $1,500
- (3 x $500 in contributions that qualify for the Additional amount of CESG) x 20% = A payment of $300
- $1,500 (CESG) + $300 (the Additional amount of CESG) = A total deposited in the RESP of $1,800
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