Quebec Education Savings Incentive (QESI)*
If your child is a resident of Quebec, they may be eligible for QESI which equals 10% of the first $2,500 of net annual contributions.
With QESI you may qualify for up to an additional $3,600
FAQ's on QESI
What is the Quebec Education Savings Incentive (QESI)?
The Government of Quebec introduced the Quebec Education Savings Incentive (QESI) to further encourage Quebec families to save for their children's post-secondary education on February 2007. This incentive is paid in the form of a refundable tax credit by Revenu Québec into the Registered Education Savings Plan (RESP) of the beneficiary. The beneficiary must be a resident of Quebec. The QESI is comprised of a basic and an increased credit and is subject to a lifetime maximum of $3,600 per beneficiary.
How do I apply for the Quebec Education Savings Incentive (QESI)?
- Register the birth or adoption of the child.
- Apply for a birth certificate for the child.
- Apply for a Social Insurance Number (SIN) for your child (at any Canada/Alberta Service Centre). Please visit https://www.canada.ca/en/employment-social-development/services/sin/apply.html for more information on the SIN application process.
- Open a Registered Education Savings Plan (RESP) with an RESP provider such as Knowledge First Financial Inc.
Once an RESP for your beneficiary is set up, Knowledge First will apply annually to Revenu Québec for the QESI monies to be paid into your RESP. You are not required to fill out any paperwork or make an application for the QESI on your income tax return.
Understanding the terms
"QESI" means Quebec Education Savings Grant which is the grant from the Government of Quebec with the cumulative lifetime maximum of $3,600 per eligible Beneficiary.
"Additional QESI" means the additional Quebec Education Savings Incentive available to qualifying families. The amount of Additional QESI is up to 10% annually on the first $500 of Contributions to a Registered Education Savings Plan.
"Basic QESI" means the Quebec Education Savings Incentive of up to 10% annually on up to $2,500 of Contributions to a Registered Education Savings Plan.
For more terms visit our glossary page.
* Certain conditions apply, please see Prospectus for full details.