Each year, the CESG adds 20% on contributions of up to $2,500. This means the CESG will add a maximum of $500 to an RESP. 

Money put into the RESP by family and friends = $2,500

Money added through the CESG = $500

Total amount for that year = $3,000

You do not have to put in a total of $2,500 to get the matching 20% from the government. 

Example

Money put into the RESP by family and friends = $200

Money added through the CESG = $40

Total amount for that year = $240

*I ask family and family friends to consider giving money for the RESP for birthdays and holidays instead of gifts. This has the added benefit of keeping clutter down in my house.

Children from middle- and low-income families may be eligible to get the Additional amount of CESG. If eligible, that means an extra 10% or 20% is added to the first $500 that is contributed to an RESP each year. If you may be in this category, make sure you are signed up for both the CESG and the Canada Learning Bond to get the most amount of money added to the RESP. 

The maximum amount of CESG, including the Additional amount, a child can get is $7,200. 

Also remember, any money in an RESP grows over time if it is invested. Speak with your bank about ways to make this money grow. Time is the most important part; the more time money is in an RESP, the longer it has to grow and the bigger it will grow. 

It is important to also do your taxes each year as the government uses tax information to determine if you are eligible that year for the Additional amount of CESG and the Canada Learning Bond.