Hi all,
I'm a Quebec resident and this year opened an RESP account at TD Canada Trust (to take advantage of the e-Series funds) for my daughter. Based on the account activity, I can see that the CESG is being deposited directly into the account since I see a purchase equal to 20% of the amount that I've contributed into the account.
However, just recently I've learned that the Quebec government offers an additional tax credit called the QESI (Quebec Education Savings Incentive) which is to be deposited directly into RESP accounts. This is supposed to amount to 10% of the contributions into the account, in addition to the CESG grant as I understand it.
I see no indication that the QESI is being deposited at all.
The troubling thing is that the Revenue Quebec website lists a list of RESP providers who are currently eligible for the QESI, and TD is not on that list. BMO, CIBC, RBC are on the list, but no TD. Here's the link: http://www.revenu.gouv.qc.ca/en/citoyen/credits/credits/iqee/fournisseurs_reee.aspx
This makes no sense to me. Has anyone dealt with this issue (especially those with RESP accounts at TD)? What have your experiences been?
I'm in the process of contacting my bank to see if they have additional information, but in the meantime I figured I would ask for your advice.
Thanks for your help!
I'm a Quebec resident and this year opened an RESP account at TD Canada Trust (to take advantage of the e-Series funds) for my daughter. Based on the account activity, I can see that the CESG is being deposited directly into the account since I see a purchase equal to 20% of the amount that I've contributed into the account.
However, just recently I've learned that the Quebec government offers an additional tax credit called the QESI (Quebec Education Savings Incentive) which is to be deposited directly into RESP accounts. This is supposed to amount to 10% of the contributions into the account, in addition to the CESG grant as I understand it.
I see no indication that the QESI is being deposited at all.
The troubling thing is that the Revenue Quebec website lists a list of RESP providers who are currently eligible for the QESI, and TD is not on that list. BMO, CIBC, RBC are on the list, but no TD. Here's the link: http://www.revenu.gouv.qc.ca/en/citoyen/credits/credits/iqee/fournisseurs_reee.aspx
This makes no sense to me. Has anyone dealt with this issue (especially those with RESP accounts at TD)? What have your experiences been?
I'm in the process of contacting my bank to see if they have additional information, but in the meantime I figured I would ask for your advice.
Thanks for your help!