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April 2004, Canadian Minister of Finance, Ralph Goodale. As part of the 2004 Canadian federal budget, the Minister of Finance Ralph Goodale introduced the Canada Learning Bond as a way to encourage low-income families to use a RESP for saving money to be used for a child's post-secondary education. [1]
The Government of Canada also provides a Canada Learning Bond (CLB) to encourage low-income families to contribute to an RESP. Families with children born on or after January 1, 2004, and who receive the National Child Benefit, will receive an additional $500 CLB when they open an RESP and $100 for each year they remain eligible.
The Canada Education Savings Act (French: Loi canadienne sur l’épargne-études, CESA) is an Act of the Parliament of Canada.It is intended to provide financial assistance for post-secondary education savings.
The 37th Canadian Parliament was dissolved prior to the passage of the 2004 Budget. The 2004 Canadian federal election resulted in a Liberal minority government. The enhancement of the CESG were later incorporated in the Canada Education Savings Act which was adopted on 7 December 2004 by a large majority of 273 votes for (from both Liberal ...
Creation of the Canada Learning Bond, effective 1 January 2004 for children born on or after that date. The grant of up to $2,000 (over the child's lifetime) is available for families entitled to the National Child Benefit .
The Canada Learning Bond targets assistance to parents less likely to have funds available to contribute to a RESP account. Students may receive funding through Canadian student loans from the Canada-Ontario Integrated Student Loan program, grants or targeted bursaries available through the Ontario Student Assistance Program , or funds ...
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CMHC also administers the legal framework for Canadian covered bonds on behalf of the Government of Canada. Introduced in 2012, the framework supports financial stability by helping lenders to further diversify their sources of funding and by attracting more international investors, thus making the market for covered bonds more robust. [40]