If your child is a resident of Quebec, you could earn up to $3,600/child as part of the Quebec Education Savings Incentive (QESI). This grant is provided as a refundable tax credit from Revenu Québec that is deposited directly into your RESP.
If eligible, you will receive a grant equalling 10% of your annual RESP contributions – up to $250 per year, with a lifetime maximum of $3,600 per child. Depending on your income, you can earn an extra 5-10% of the first $500 contributed each year.
How do I apply for the Quebec Education Savings Incentive (QESI)?
To apply for QESI, follow these simple steps:
- If you haven’t already, register the birth/adoption of your child and apply for a birth certificate
- Apply for a Social Insurance Number (SIN) for the child. Learn more about the SIN application process.
- Open a Registered Education Savings Plan (RESP)
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.