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Determine the amount of the CESGs

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Reference no: EM132613742

Question - Mario 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. Mario's grandmother contributes an additional $400 to the plan on the same day. In 2019, Mario's mother contributes $2,200 to the plan, while the grandmother contributes an additional $1,900. Mario's family has never had family income of more than $40,000. Determine the amount of the CESGs that would be added to Mario's RESP in 2018 and 2019.

Reference no: EM132613742

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