The total financial aid awarded in a calendar year will be reported on the T4A and Relevé 1 information slips issued in the student’s name. Parents must provide their son’s Social Insurance Number (SIN).
Federally, bursaries are tax exempt; provincially, they remain a taxable source of income but are eligible for a full deduction. Therefore, this income will have no impact on the student's tax returns.
This summary is of a general nature only and is not intended to be legal or tax advice. Accordingly, parents should consult their personal tax advisors with regard to their particular circumstances.
How the Application Process Works
Important Factors to Consider
Deadlines for Applying
How to Proceed with the Financial Aid Application
Tax Implications of Receiving Financial Aid