No March break for the Québec education savings incentive!
Let's build a bright future for our children!
It might be March break for thousands of students, but not for the Québec education savings incentive (QESI).
The QESI is a refundable tax credit that is paid directly into a child's registered education savings plan (RESP). Your contribution to a child's RESP may give entitlement to the QESI, whether or not you are related to the child. The RESP must be created by a trustee authorized by Revenu Québec and held until the calendar year in which the child turns 17.
When you save with an RESP, Revenu Québec contributes an amount equal to 10% of the 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.
A head start for a bright future!
For more information on the QESI, visit our website.