Checklists
What will the government pay us, and how do we save for school?
Two programs do most of the work: the Canada Child Benefit pays a tax-free amount every month based on your family income, and an RESP turns $2,500 a year into $3,000 with the education grant.
Worth knowing before you start
- The Canada Child Benefit pays up to $8,157 a year per child under 6 and $6,883 for ages 6 to 17 (2026-27), tax-free, reduced as family income rises. Both parents must file a tax return every year to keep it.
- The government adds 20% to RESP contributions, up to $500 a year and $7,200 per child. $208 a month captures all of it. Lower-income families get extra grants and the $2,000 Canada Learning Bond with no contribution.
- Maternity and parental EI pays 55% of average earnings (up to $729 a week in 2026) for up to 12 months, or 33% over 18 months. Many employers top it up.
- Childcare costs are deductible from the lower-income spouse’s income, which also raises your CCB.
The steps, in order
- 1 What will the CCB pay us?Your monthly amount, the payment dates, and what changes as your children grow.Open the Canada Child Benefit calculator →
- 2 How do we capture the RESP grant?The contribution that gets the full grant, and how to catch up if you started late.Open the RESP and CESG calculator →
- 3 What will one income look like?Take-home pay if one of you drops to part-time or leave.Open the Take-home pay calculator →