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<a class="wb-lbx lbx-modal" title="beneficiary definition" href="#inline_content_modal_bens">beneficiaries</a> | ||
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<a class="wb-lbx lbx-modal" title="subscriber definition" href="#inline_content_modal_sub">subscriber</a> | ||
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<a class="wb-lbx lbx-modal" title="promoter definition" href="#inline_content_modal_prom">promoter</a> | ||
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<a class="wb-lbx lbx-modal" title="adjusted family income definition" href="#inline_content_modal_income">adjusted family income</a> | ||
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<a class="wb-lbx lbx-modal" title="primary caregiver definition" href="#inline_content_modal_pcg">primary caregiver</a> | ||
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<section id="inline_content_modal_prom" class="mfp-hide modal-dialog modal-content overlay-def"> | ||
<header class="modal-header"> | ||
<h2 class="modal-title">"Promoter" definition</h2> | ||
</header> | ||
<div class="modal-body"> | ||
<p>The <strong>promoter</strong> is the financial organization where you open the RESP. The promoter administers all amounts contributed into the RESP and releases money from the RESP to the beneficiary when it is needed for eligible expenses for education after high school.</p> | ||
</div> | ||
</section> | ||
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<section id="inline_content_modal_sub" class="mfp-hide modal-dialog modal-content overlay-def"> | ||
<header class="modal-header"> | ||
<h2 class="modal-title">"Subscriber" definition</h2> | ||
</header> | ||
<div class="modal-body"> | ||
<p>The <strong>subscriber</strong> is the person who opens the RESP with a promoter. Anyone can be a subscriber and open an RESP for a child. This includes parents, guardians, grandparents, other relatives, and friends. The subscriber can also choose to make contributions. Contributions to the RESP are not needed to receive the CLB, but are needed to receive the CESG.</p> | ||
</div> | ||
</section> | ||
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<section id="inline_content_modal_bens" class="mfp-hide modal-dialog modal-content overlay-def"> | ||
<header class="modal-header"> | ||
<h2 class="modal-title">"Beneficiary" definition</h2> | ||
</header> | ||
<div class="modal-body"> | ||
<p>The <strong>beneficiary</strong> is the person (usually a child) who will get money from the RESP to pay for their education after high school, as long as the school and program are eligible. | ||
<ul> | ||
<li>The beneficiary can be a child or an adult</li> | ||
<li>The beneficiary can be the same person as the subscriber, if an adult opens an RESP for themselves</li> | ||
<li>Depending on the plan type, there can be more than one beneficiary for each RESP</li> | ||
</ul> | ||
</div> | ||
</section> | ||
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<section id="inline_content_modal_income" class="mfp-hide modal-dialog modal-content overlay-def"> | ||
<header class="modal-header"> | ||
<h2 class="modal-title">"Adjusted family income" definition</h2> | ||
</header> | ||
<div class="modal-body"> | ||
<p>The adjusted family income is the amount used, in part, to determine eligibility for the CLB and the amount of the CESG. Adjusted family income is the primary caregiver's, and their spouse/common-law partner's pre-taxed income (line 23600 of the income tax return), minus any Canada Child Benefit (CCB) and Registered Disability Savings Plan (RDSP) income received. If you repaid any CCB or RDSP income in a given year, you can add that amount is added back into your adjusted family income.</p> | ||
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<h3>How to calculate adjusted family income</h3> | ||
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<ul class="fa-ul lst-spcd mrgn-bttm-lg mrgn-lft-lg"> | ||
<li><span class="mrgn-tp-0 text-muted h5">Primary caregiver's yearly pre-taxed income</span></li> | ||
<li><span class="fas fa-plus fa-li"><span class="wb-inv">plus</span></span> <span class="mrgn-tp-0 text-muted h5"> Spouse or common-law partner's yearly pre-taxed income, if applicable</span></li> | ||
<li><span class="fas fa-minus fa-li"><span class="wb-inv">minus</span></span><span class="mrgn-tp-0 text-muted h5">CCB and RDSP income received</span></li> | ||
<li><span class="fas fa-plus fa-li"><span class="wb-inv">plus</span></span><span class="mrgn-tp-0 text-muted h5">CCB and RDSP income repaid to the Government</span></li> | ||
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<li> | ||
<hr class="brdr-bttm mrgn-tp-0 mrgn-bttm-md"> | ||
<span class="fas fa-equals fa-li"><span class="wb-inv">equals</span></span> | ||
<span class="fa-stack text-success"> | ||
<span class="far fa-circle fa-stack-2x"></span> | ||
<span class="fas fa-dollar-sign fa-stack-1x"></span> | ||
</span> | ||
<span class="mrgn-tp-0 text-muted h5"> Adjusted family income</span> | ||
</li> | ||
</ul> | ||
</div> | ||
</section> | ||
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<section id="inline_content_modal_pcg" class="mfp-hide modal-dialog modal-content overlay-def"> | ||
<header class="modal-header"> | ||
<h2 class="modal-title">"Primary caregiver" definition</h2> | ||
</header> | ||
<div class="modal-body"> | ||
<p>This is the person who is eligible to receive the Canada Child Benefit in the child's name. The signature and Social Insurance Number of the primary caregiver or of their cohabiting spouse or common-law partner , are required when requesting certain benefits.</p> | ||
<p>The primary caregiver may also be a public institution: A child care department, agency, institution or organization eligible to receive payments under the Children’s Special Allowances Act, for the child, for at least 1 month of the benefit year. To request the CESG and the CLB, the public primary caregiver must provide their Business Number (BN).</p> | ||
</div> | ||
</section> |