Please correct the below statements:
For a child born in 1993, maximum CESG works out= $3,800.
The grant will end on Dec 31 of the year the child turns 17 (2010). Right or wrong?
Plan can continue until what age?
Based on the above, tell me if below is right:
If one has already contributed $7,800 (grant received $1,560) until 2008, one can catch up to receive closer to the full eligible grant ($3,800 in the above case) by making lumpsum contributions of $5,000 each in the year 2009 and 2010 ($1,000 in grant money each year). Making the total grant to $3,560.
One cannot receive more than $1,000 in CESG grant in a calendar year. Right?
Thanks in advance.
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Location: carl sagan's universe
Posted on: 16-08-09 22:31:02
Hello Amit,
Not sure how you arrived at the figure $3,800. Can you please expound?
Quote:
Originally posted by investpro
Hello Amit,
Not sure how you arrived at the figure $3,800. Can you please expound?
You got me. I made an error, it should be $5,600 and not $3,800. Right?
$400 grant /year from 1998 to 2006 and $500 grant/ year from 2007 to 2010. Grant stops when child turns eighteen (2010).
Now help answering the second part of my query.
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
