Quote:
Originally Posted by Slava
^ I'm not totally sure that I understand what you mean? The total grants aren't reduced by your contributions though. The CESG will give you 20% of your contributions each year up to that maximum of $500 in your case. That grant comes from the federal government. The grant that is soon to be discontinued (at least it was set under the PC's and I haven't heard otherwise at this point under the NDP) is the provincial ACES grant.
I'm almost sure that the year for these programs represents the calendar year; so if you did the $2,500 in 2015 you might want to wait until 2016 to take advantage of the resulting match from that. To be totally sure though you should give a call to your provider and confirm that with them.
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Okay, thanks!
Basically I thought that the one that was being cancelled was the one that matches 20% up to a max of $500 hence the $2,500 I tossed in today. I then wondered what I should be contributing in the next year given the cancellation of the above referenced matching program being cancelled (which I now know it isn't).
So the one cancelled (pending NDP changing something) was just a one time $500 shot as long as I opened the account by July 1? And with that being the case, the goverment will still match 20% up to a max of $500 so I should keep giving $2,500 per year?
My other part was I donated $2,500 today. When can I start again? The day the kid turns one, or Jan 1, 2016?