text: Here is the answer to the RESP question, because Rob didn't answer it.
  
  CESG calculation is based on calendar year. To get the maximum CESG of $500 for a calendar year, you must contribute $2500. Now, much like a TFSA, untapped CESG  carries over indefinitely if contributions to tap it aren't made. Unlike a TFSA, however, you can only "catch up" on one previous year for every calendar year.
  
  So you have eligible CESG for 2016 and 2017 because the baby was born in 2016. You can put in $2500 in 2016 and $2500 in 2017 to secure the maximum CESG. Alternatively, if you skip a contribution in 2016, you can put in $5000 in 2017 and you will receive $1000 of CESG (for 2016 and 2017) and you will be caught up. If your baby had been in 2015, however, you would not be able to put in $7500 in 2017 to "catch up" on $1500 of CESG. Instead, you would have to put in $5000 in 2017 (getting $1k of CESG for 2015 and 2016) and then another $5000 in 2018 (for another $1k in 2017 and 2018). Get it?