Government Grants and Incentives

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Government grants

Grant	Amount	Eligibility
Basic Canada Education Savings Grants (CESG)	Matches 20% of RESP contributions, up to $500 a year CESG can be carried forward up to a maximum of $1,000 per year Lifetime maximum of $7,200 per beneficiary	Available up until the end of the calendar year in which the beneficiary turns 17 Special rules apply at ages 16 and 17 May also be eligible for additional government payments depending on your adjusted family net income and province of residence
Additional CESG	10% or 20% on the first $500 contributed to an RESP each year, depending on family income Paid in addition to Basic CESG	Eligibility for Additional CESG is based on family income For more information, visit Employment and Social Development CanadaOpens a new window in your browser.
Canada Learning Bond (CLB)	$500 when you open an RESP $100 in subsequent years for up to 15 years	Available to children born on or after January 1, 2004 Family must be receiving the National Child Benefit Supplement

Summary of basic and additional CESG

Family net income¹ (2019)	CESG rate on first $500 (or less) in contributions per year	CESG rate on contributions between $500 and $2,500 per year
Less than $47,630	20% basic, plus 20% additional	20% basic
$47,630 to $95,259	20% basic, plus 10% additional	20% basic
More than $95,259	20% basic	20% basic

¹ Figures may change annually.

Provincial grants and incentives

Quebec Education Savings Incentive (QESI)

Revenu Québec deposits the QESI refundable tax credit directly into the RESP of the beneficiary. The QESI is made up of a basic and an increased credit. It’s subject to a lifetime maximum of $3,600 per beneficiary. The beneficiary must be a resident of Quebec.

A family plan RESP can’t be created by a brother or sister. If you want to create a plan for your brother or sister and get the QESI credit, consider getting an individual plan.

Learn more about family and individual RESP plans

Additional Quebec Education Savings Incentive (Additional-QESI)

Additional-QESI can be added to the basic QESI amount, depending on a family’s income. It offers an increase of up to $50 each year to help low- and middle-income families.

Within CIBC, the Additional-QESI credit is only available within CIBC Securities Inc., RESP GICs and mutual fund accounts.

British Columbia Training and Education Savings Grant (BCTESG)

The Government of British Columbia introduced BCTESG in 2013. It’s a $1,200 one-time grant to eligible children born on or after January 1, 2006. When an eligible child turns 6 years old, the subscriber may be able to apply for the grant.

Saskatchewan Advantage Grant for Education Savings (SAGES)

TSAGES was a Saskatchewan incentive that lasted from 2013 to 2017. The incentive paid at a rate of 10% on contributions made to an RESP. It went up to $250 per beneficiary for each eligible year. The incentive lasted until December 31 of the year in which the beneficiary turns 17. SAGES payments per beneficiary could have reached a lifetime maximum of $4,500.

Although SAGES is no longer available, CIBC accepts transfer-ins that include SAGES.

For more information about government incentives, contact your CIBC advisor or call 1-800-465-3863Opens your phone app..

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A CIBC Personal Line of Credit can be a simple and convenient borrowing option to help cover education expenses.

Find out moreabout a CIBC Personal Line of Credit.

Government grants and incentives

Government grants

Summary of basic and additional CESG

Provincial grants and incentives

Quebec Education Savings Incentive (QESI)

Additional Quebec Education Savings Incentive (Additional-QESI)

British Columbia Training and Education Savings Grant (BCTESG)

Saskatchewan Advantage Grant for Education Savings (SAGES)

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Education – RESPs