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Quebec Education Savings Incentive (QESI)

Quebec Education Savings Incentive (QESI) – For those who are eligible to receive it, the Quebec Education Savings Incentive is equal to 10% of your annual RESP contribution – up to a maximum of $3,600.

  • Each year, a registered education savings plan (RESP) account can receive an amount equal to 10% of the net contributions paid into it over the course of a year, up to a maximum of $250.
  • In addition, as of 2008, any benefits accrued during previous years can be added to the basic amount, up to a maximum of $250.
  • To help low-income families, an increase of up to $50 per year, calculated on the basis of family income, may be added to the basic amount.
  • Under the Québec education savings incentive (QESI), a single beneficiary cannot be granted more than $3,600 for all of the RESPs of which the child is beneficiary.

To be entitled to the Québec education savings incentive (QESI), the child beneficiary must meet all of the following conditions:

  • be less than 18 years old
  • have a social insurance number (SIN)
  • be resident in Québec on December 31 of the taxation year
  • be the designated beneficiary of the concerned registered education savings plan (RESP).