Marco was born in 2018

Accounting Dec 17, 2020

Marco was born in 2018.  As his mother is very keen on tax planning, she establishes an RESP for Marco by contributing $1,000 to the plan in 2018.  Marco’s grandmother contributes an additional $400 to the plan on the same day.

In 2019, Marco’s mother contributes $2,200 to the plan, while the grandmother contributes an additional $1,900.  Marco’s family has never had family income of more than $40,000.  Determine the amount of the CESGs that would be added to Marco’s RESP in 2018 and 2019.

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