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Children born on or after January 1, 2004 can be eligible for the CLB when the family receives the National Child Benefit (NCB) Supplement. Families can receive $500 for each child’s RESP in the first year they qualify for the benefit and may be eligible for $100 for each subsequent qualifying year to age 15. These funds can contribute up to $2,000 for an eligible child’s RESP.
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Alberta Centennial Education
Savings Plan (ACES)
Children born to or adopted by an Alberta family on or after January 1, 2005 are eligible to receive a one-time ACES grant of $500.
Subsequent contributions of $100 are also available for any resident children attending school in Alberta at ages 8, 11 and 14. Children do not have to receive the one-time grant to qualify for subsequent $100 contribution. These grants require a minimum $100 invested in an RESP within one year prior to application.
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Quebec Education Savings Incentive
The Québec Education Savings Incentive (QESI) is a tax credit that encourages Québec families to start saving early for their children's and grandchildren's education. The tax incentive (effective February 21, 2007) adds up to 10% ($250 maximum) to your annual RESP contribution per child up to a lifetime maximum $3,600.
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