BC Training and Education Savings Grant (BCTESG)

In a previous post, we provided information in regards to the above grant.

Budget 2016 announced that the program was being expanded so that children born in 2006 can apply for the grant as well. It is expected that parents, grandparents and families of these children will be able to start applying for the $1,200 grant before the end of 2016.

For families with children born on or after January 1, 2006, the government of BC will contribute $1,200 into an RESP to eligible children. To be eligible:

a)      The child must be born in 2006 or later

b)      The parent and child must be residents of BC

c)      The child must be a beneficiary of an RESP with a participating financial institution

This is a new program that requires you to complete an application form in order to receive the grant so make sure you contact a participating financial institution for available application forms.

As always, if you have any questions about this or anything else, please don’t hesitate to contact our office.

The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.