First payment of the Québec education savings incentive (QESI)

Revenu Québec has made a first payment of more than $11 million to trustees (or mandataries) offering the Québec education savings incentive (QESI), which will profit several beneficiaries of registered education savings plans (RESPs).

The QESI is a tax measure that came into effect on February 21, 2007. The measure encourages Québec families to start saving more and earlier for their children’s education. It consists of a refundable tax credit paid directly into a trust governed by an RESP that is opened with a financial institution or with another RESP provider offering the QESI. The trustee designated by your RESP provider must apply for the tax credit with Revenu Québec on your behalf.

If you wish to benefit from the QESI, contact one of the RESP providers that offer the QESI. 

Article source: http://www.revenuquebec.ca/en/centre-information/actualite/2008/2008-09-17.aspx?rss=1