Hi all,
I recently set up an RESP account and have a question about the CESG. The maximum CESG grant in our situation would be 500$ per year.
My question is: what does "per year" represent exactly? Is it based on fiscal year, on calendar year, or on the birth date of the child?
So let's say a child was born in the month of june and the family started contributing to the RESP in the month of september.
Would the family only have the months of September to December for first "year" contributions and consequently for CESG grants?
Thanks for your help!
I recently set up an RESP account and have a question about the CESG. The maximum CESG grant in our situation would be 500$ per year.
My question is: what does "per year" represent exactly? Is it based on fiscal year, on calendar year, or on the birth date of the child?
So let's say a child was born in the month of june and the family started contributing to the RESP in the month of september.
Would the family only have the months of September to December for first "year" contributions and consequently for CESG grants?
Thanks for your help!