Looking for a good gift idea?
Give a head start for a bright future!
This holiday season, consider giving a registered education savings plan (RESP) to a child on your gift list.
In addition to your contribution to an RESP, the child will receive the Québec Education Savings Incentive (QESI), which is a refundable tax credit paid directly to the child's RESP held by a trustee authorized by Revenu Québec. The tax credit is paid every year a contribution is made until the year the child reaches 17.
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.
What a fantastic gift! A head start for a bright future!
For more information on the QESI, visit our website.