Learn all about education savings!
November 18 to November 24 is Education Savings Week, which aims to inform Quebecers about the importance of contributing to a registered education savings plan (RESP) and to highlight the various measures and government incentives available.
The Québec education savings incentive (QESI)—which took effect on February 21, 2007—encourages families to save for the post-secondary education of their children and grandchildren. This measure is a refundable tax credit paid directly into an RESP opened with a trustee authorized by Revenu Québec, up until the calendar year the child turns 17.
Note that you can open or contribute to an RESP for a child who is not related to you.
A head start for a bright future!
When you save with an RESP, Revenu Québec contributes an amount equal to 10% of your net annual contributions. You can receive up to $250 by contributing $2,500 per year. You can also receive an additional amount based on your family income. In addition, the federal government contributes to your RESP through programs such as the Canada Education Savings Grant and the Canada Learning Bond.
For more information on the QESI, visit our website.