1668000 06/21
Definitions
Beneficiary Educational Assistance Payment (EAP)
A Beneficiary under a Registered Education Savings Plan is an individual named by An Educational Assistance Payment consists of growth and Grant* and is paid or
the subscriber who will receive Educational Assistance Payments if the individual payable under an RESP to or for an individual (called the beneficiary) to assist with
qualifies for these payments under the terms of the plan. the beneficiary’s education at the post-secondary school level. These amounts do
not include refunds of contributions made to the subscriber of the plan.
Subscriber/Contributor
A beneficiary cannot receive more than $5,000 in the form of an EAP during the first
A person including a public primary caregiver, who enters into an RESP contract with
13 weeks of his or her post-secondary education. Beneficiaries studying part-time
the promoter is the subscriber. The subscriber agrees to contribute to the contract
are entitled to receive $2,500 of EAP every 13 weeks.
on behalf of an individual named under the plan as a beneficiary.
EAPs to the plan’s beneficiary can begin once he/she becomes a full-time student
Capital
or part-time student enrolled in a qualified post-secondary educational program or
Contributions made by the subscriber(s)
within six months after the end of the term. Non-residents are not eligible for CES
grant as a portion of their withdrawal. The maximum amount of grant a beneficiary
Grant
can receive is $7,200.00.
Refers to Canada Education Savings Grant (CESG), Additional Canada Education
Savings Grant (Additional CESG), Canada Learning Bond (CLB), Saskatchewan
Post Secondary Capital Withdrawal (PSE)
Advantage Grant for Education Savings (SAGES), B.C. Training and Education Savings
Post Secondary Capital Withdrawal is a withdrawal of contributions made by
Grant (BCTESG) and Quebec Education Savings Incentive (QESI).
the subscriber during the time a beneficiary is eligible to receive EAPs. Since the
beneficiary is pursuing post-secondary education, the subscriber may withdraw his/
Additional Canada Education Savings Grant (Additional CESG)
her contributions without being required to repay any grant amounts. The subscriber
The Additional CESG is an enhanced federal government grant for a qualifying
must sign the request for PSE Capital Withdrawals.
beneficiary whose Primary Caregiver’s family net income meets the income thresholds
stipulated by CRA each year. Public Primary Caregivers must receive payments under
Non Educational Capital Withdrawal
the Children’s Special Allowances Act.
Non Educational Capital Withdrawal is a withdrawal of contributions made by the
subscriber during the time a beneficiary is not eligible to receive EAPs. Since the
Canada Education Savings Grant (CESG)
beneficiary is not pursuing post-secondary education, the subscriber may withdraw
Canada Education Savings Grant means a grant paid by Employment and Social
his/her contributions but may be required to repay some or all grant amounts. The
Development Canada to the RESP trustee for deposit on behalf of the beneficiary.
subscriber must sign the request for Non Educational Capital Withdrawals.
Canada Learning Bond (CLB)
Post-Secondary Educational Institution
The CLB is an additional federal government grant for a Canadian resident beneficiary
A Post-Secondary Educational Institution can be any of the following:
born after 2003 whose Primary Caregiver is in receipt of the National Child Benefit
a) A university, college, or other educational institution in Canada that has been
Supplement. Public Primary Caregivers must receive payments under the Children’s
designated for purposes of the Canada Student Loans Act or the Canada Student
Special Allowances Act.
Financial Assistance Act, or is recognized for purposes of the Quebec Student
Loans and Scholarships Act.
Saskatchewan Advantage Grant for Education Savings (SAGES)
b) An educational institution in Canada certified by the Minister of Employment
SAGES is an education savings incentive that is paid by the Government of
and Social Development to be providing courses, other than courses designed
Saskatchewan into an RESP at a rate of 10% of RESP contributions in respect of
for university credit, that give a person occupational skills or improve a person’s
eligible beneficiaries; and for contributions made on or after January 1, 2013.
occupational skills.
While each eligible beneficiary’s SAGES grant room increases by $250 per eligible
c) A university outside Canada that provides courses at a post-secondary school
year, the annual SAGES amount that can be paid per beneficiary is limited to the
level, provided the beneficiary is enrolled in a course that runs at least 3
consecutive weeks.
lesser of the accumulated SAGES grant room for the beneficiary and the SAGES
annual limit of $500.
d) A college or other educational institution outside Canada that provides courses
at a post-secondary school level, provided the beneficiary is enrolled in a course
B.C. Training and Education Savings Grant (BCTESG)
that runs at least 13 consecutive weeks.
BCTESG is an education savings incentive that is paid by the Government of British
Proof of Enrollment
Columbia into an RESP for children born on or after January 1, 2007; and for children
To request an EAP or PSE withdrawal, documents must be provided to the beneficiary
who are residents in British Columbia (with a custodial parent or a legal guardian
by the educational institution and should confirm the following:
who is also a resident) at the time of the BCTESG application. BCTESG is a $1,200
a) Name of student
one-time grant per eligible beneficiary. When an eligible child turns six years old,
b) Program type
the subscriber may be able to apply for the grant.
c) Program start date, duration and year of the program
Quebec Education Savings Incentive (QESI)
d) Educational institution’s name (logo, letter head or website address)
The Quebec Education Savings Incentive is a refundable tax credit that is paid by
For more detailed information, please see Proof of Enrollment guidelines attached.
Revenu Québec to the RESP on behalf of a beneficiary who resides in Quebec. QESI
Increase is available to beneficiaries that meet eligibility requirements determined
by the Quebec government.
Mackenzie Investments
180 Queen Street West
Toronto, ON M5V 3K1
TEL 1-800-387-0614 or 416-922-3217
FAX 1-866-766-6623 or 416-922-5660
E-MAIL service@mackenzieinvestments.com
WEB mackenzieinvestments.com
