Maximum amount: $7,200 for the duration of the plan for each child
born after 1997.
Beneficiary age limit: 17 years.
Grants are equivalent to 20-40% of annual contributions based on
family income, on the first instalment of annual contributions, up
to a maximum of $500 per year per beneficiary.
Unused grants can be carried over at a rate of one per year (up to
a total of $1,000 in grants per year).
You can only claim one year's worth of unused grants at a time.
This means that the maximum annual contribution eligible for grants
is $5,000. This contribution will earn you the maximum grant of $500
for the current year and $500 of unused grants from a previous year.