Saskatchewan Advantage Grant for Education Savings (SAGES)
Effective January 1, 2013 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 per child per year. The maximum lifetime SAGES grant is $4500 per child.
The Government of Saskatchewan has announced the suspension of SAGES effective December 31, 2017.
“ With the SAGES, eligible children may qualify for up to $4,500”
To be entitled to SAGES the following conditions must be met:
- contributions must be made on or before December 31 of the year the child turns 17;
- the child is a named beneficiary of an eligible RESP; and
- the child must be a resident of Saskatchewan when the RESP contributions are made