CA 2028 RESP + CESG
CA 2028 RESP: contribute up to $50,000 lifetime. CESG matches 20% of first $2,500/year = $500/year up to $7,200 lifetime. Low income gets extra 10-20%.
| Total RESP contribution | — |
| Children | — |
| Basic CESG (20%) | — |
| Additional CESG (income-tested) | — |
| Per-child CESG | — |
| 2028 total CESG | — |
Canada 2028 RESP allows up to $50,000 lifetime contributions per child. Canada Education Savings Grant (CESG) matches 20% of first $2,500/year = $500/year, lifetime $7,200/child. Low-income families get additional 10-20% on first $500 = $50-$100 extra/year. CLB up to $2,000 for low-income.
CESG Strategy
Contribute exactly $2,500/year for 14.4 years to max out $7,200 CESG. Above $2,500/year wastes potential grant carry-forward. Catch-up: carry-forward 1 year only ($1,000/year extra eligible for CESG). Plan early — start at birth.
Withdrawal Rules
Subscriber contributions: tax-free withdrawal. Education Assistance Payments (EAP = CESG + investment growth): taxable to student (usually low/no tax). Non-education withdrawal: contributions tax-free, but EAP grants + growth taxed as income to subscriber + 20% additional tax. Try not to withdraw without education use.
Family RESP Multi-Child
Family Plan allows multiple beneficiaries in one RESP. CESG tracked per child, but contributions + growth pool. If one child doesn't attend post-secondary, EAP can fund other children's education (subject to per-child CESG cap).
Last updated May 2026. Sources: CRA RESP.