The Canada learning Bond contributes up to $2,000 into an RESP for children born on or after January 1, 2004. This is calculated as follows: $500 is contributed to help a family start an RESP; each eligible child could also receive $100 every year until he or she turns 15 years old, to a maximum of $2,000.

With the CLB, eligible children may qualify for up to $2,000.

Children with an RESP born on or after January 1, 2004 will be eligible for the CLB in each year, up to and including the year in which the child turns 15 years of age. Eligibility is based, in part, on the number of qualified children and the adjusted income of the individual primary caregiver.

In order to be eligible to receive the CLB, your Beneficiary must have a valid social insurance number (SIN) and be a Canadian resident.