A grant issued by the federal government equal to 20 per cent of the first $2,000 in annual RESP contributions for children under age 18, to an annual maximum of $400 and a lifetime maximum of $7,200. Effective January 1, 2005, for families with qualifying net income of $35,000 or less, the CESG matching rate was doubled to 40 per cent (from 20 per cent) for the first $500 contributed to a child’s RESP. The CESG matching rate for the first $500 contributed by families with net income over $35,000 but less than $70,000 was increased to 30 per cent.
Federal government program designed to help parents, grandparents and interested Canadians save for a child's post-secondary education. The Government of Canada will contribute 20% of the amount of contributions made to a Registered Education Savings Plan, to a maximum yearly amount of $400 per child per year or a lifetime maximum of $7,200.
grant money paid by Human Resources Development Canada towards a beneficiary's RESP. CESGs add 20% of the first $2,000 in contributions towards the beneficiary's plan, up to an annual maximum of $400 and a lifetime maximum of $7,200.
A grant introduced by the federal government which entitles a child to receive a 20% grant on the first $2,000 of an annual RESP contribution, to a maximum of $400 per year or $7,200 over an 18 year lifetime. The CESG is not included in determining the annual or lifetime contribution limits of an RESP. Children must be under 18 years of age to qualify.
A federally introduced program in which the Government will invest, in the form of grants, with parents who save for their children's education through Registered Education Savings Plans (RESPs). The government will add to contributions made by parents to an RESP by 20% up to a yearly maximum of $400 per beneficiary.
The Canada Education Savings Grant (CESG) is a grant from the Government of Canada paid directly into a beneficiary's Registered Education Savings Plan (RESP). It adds 20% to the first $2,000 in contributions made into an RESP on behalf of an eligible beneficiary each year. This means the grant can be as much as $400 each year per beneficiary and over the years could amount to a total of $7,200.
A federal government program that provides monetary grants to registered education savings plans initiated by parents to be used to pay for the education of a dependant. Portfolio Plus has a full-fledged RESP system. However you should also know that the RESP legislation is complex and the requirements for employee training are considerable. If you don't have the RESP volume to be able to justify the purchase of a system or handle the training requirements you may want to consider using someone like Concentra (an SIT customer) to provide this functionality for you. · See Also · RESP
Program recently introduced by the federal government whereby it will invest, in the form of grants, along-side parents who save for their children's education through RESPs. The government will top up contributions made to an RESP by 20% up to a yearly maximum of $400 per beneficiary.
The Canada Education Savings Grant (CESG) program allows eligible RESP beneficiaries to receive grant monies based on annual contributions paid into the plan. The federal government will contribute 20% annually on the first $2,000 deposited into an RESP for children up to the end of the year they attain 17 years of age. The maximum grant, per beneficiary, that can be received is $7,200.
