While the CESG is widely known, many families miss out on additional government incentives that can significantly boost an RESP.
The Canada Learning Bond (CLB)
For moderate-to-low income families, the government offers the Canada Learning Bond. This provides an initial $500 just for opening an RESP, plus $100 for each eligible year, up to $2,000—with absolutely no personal contribution required.
Provincial Incentives
Certain provinces offer their own grants, such as the BCTESG in British Columbia or QESI in Quebec. By consulting with a financial advisor, you can ensure that you're capturing every dollar of government support available, maximizing the impact of your family's savings.