Determining the QESI Amount

Basic amount

Each year, a registered education savings plan (RESP) can receive an amount equal to 10% of the net contributions paid into it over the course of a year, up to a maximum of $250. The net contributions for the year correspond to the contributions paid in the year that were not withdrawn from the RESP at the time the trustee applied for the tax credit.

In addition, since 2008, accumulated rights from previous years can increase the basic amount, up to a maximum of $250 per year. However, the basic amount cannot exceed $500 per year.

Additional amount

To help low-income and middle-income families, an amount of up to $50 per year, calculated on the basis of family income, may be added to the basic amount.

Note

Under the Québec education savings incentive (QESI), the total cumulative amount that can be granted to a beneficiary (for all of the beneficiary's RESPs) cannot exceed $3,600.

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