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The Québec Education Savings Incentitive is a tax credit paid by Revenu Québec directly into an eligible beneficiary’s resp.
For the first $500 invested in a child's RESP, the QESI works out to:
 | 20 cents per dollar invested if the net family income of the child’s caregiver is $ 37,500 or less *;
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| 15 cents per dollar invested if the net family income of the child’s caregiver is $ 37,500 to $75,000 *;
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| 10 cents per dollar invested if the net family income of the child’s caregiver is over $75,000 *. |
* For 2008. Amounts are updated every year. In addition, as of 2007, any benefits accrued during previous years can be added to the basic amount, up to a maximum of $250.
Regardless of the net family income of the child's caregiver, if you invest more than $500, Revenu Québec will pay 10 cents on each additional dollar invested, based on a total maximum contribution of $2,500 per year. The cumulative cap of the QESI is $3,600 per beneficiary.
To be eligible, a child must:
| Be under 18 years old;
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| Have a Social Insurance Number (SIN);
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| Be resident in Québec on December 31 of the taxation year;
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| Be the designated RESP beneficiary. |
Applying for the QESI
No need to apply—Desjardins will arrange with Revenu Québec for the QESI to be deposited directly to your RESP.
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