Quebec Education Savings Incentive (QESI)

Quebec Education Savings Incentive

Overview

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.

“ With the QESI, eligible children may qualify for up to $3,600.”

Eligibility

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).