Questrade RESP - when do we receive CESG?

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Jul 5th, 2021 2:27 pm

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Jul 5th, 2021 11:22 am

kinz186 [OP]: Member; Jun 3, 2017; 243 posts; 201 upvotes

Jul 5th, 2021 11:22 am

Questrade RESP - when do we receive CESG?

Hi everyone,

Just finalizing opening Questrade RESP, and will be depositing $2500 per year to maximize the CESG.

Does CESG get paid every calendar year? Or every year the RESP is open? I am expecting to get the CESG for the initial $2500 deposit in a month or two.

Can I deposit the next $2500 on January 1st, 2022? Or do I need to wait until July of 2022 to deposit the $2500 to get the CESG?

Thanks,

3 replies

Jul 5th, 2021 12:44 pm

sunbat: Sr. Member; Feb 9, 2018; 600 posts; 500 upvotes

Jul 5th, 2021 12:44 pm

kinz186 wrote: ↑ Hi everyone,

Just finalizing opening Questrade RESP, and will be depositing $2500 per year to maximize the CESG.

Does CESG get paid every calendar year? Or every year the RESP is open? I am expecting to get the CESG for the initial $2500 deposit in a month or two.

Can I deposit the next $2500 on January 1st, 2022? Or do I need to wait until July of 2022 to deposit the $2500 to get the CESG?

Thanks,

You dont have to wait till July 2022 to deposit. You can do it in Jan 2022.

Jul 5th, 2021 2:04 pm

sky417: Sr. Member; Mar 7, 2011; 559 posts; 499 upvotes; Vancouver

Jul 5th, 2021 2:04 pm

kinz186 wrote: ↑ Does CESG get paid every calendar year? Or every year the RESP is open? I am expecting to get the CESG for the initial $2500 deposit in a month or two.

I made the contribution on May 19th, got the grant on June 30th. If I remember correctly, it says 6~8 weeks somewhere..

Jul 5th, 2021 2:27 pm

Dynatos: Deal Addict; Oct 24, 2010; 2760 posts; 2810 upvotes; Ottawa

Jul 5th, 2021 2:27 pm

Grant contributions are based on calendar year, not birth date.

Theoretically if your kid was born on December 31, you'd be able to put in $5k on January 1 to get back $1k in grants deposited about 6-8 weeks later. Of course, that's not realistic because you won't have a SIN number until much later than January 1 in that weird corner case.

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