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Newsletters>
Students with a Disability
April 5, 2009
National Educational Association of Disabled Students (NEADS) website:
The Canada Study Grant and Canada Access Grant provide up to $8,000 and $2,000 per year, respectively, to students with disabilities to help cover education-related costs.
The 2006 Federal Budget featured an announcement which eliminated the $3,000 limit on the amount of scholarship, bursary and fellowship income a post-secondary student can receive without paying federal income tax.
This isn't quite right...
Subsequent to that, it was announced that the full amount of scholarships, bursaries and grants is not taxable and /or reported as income on the tax return if you are eligible for the education amount.
This includes the Millennium Scholarship, Canada Study Grants and Canada Access Grants.
Not only do students with a disability gets grants, they are eligible for full time education and textbook amounts for part time attendance in school. Thats' $400 plus $65 per month of tax credits at about 20% and it's transferrable to parents and grandparents along with tuition fees that aren't useable by the student. (at least up to the first $5,000 and the rest carries forward for use by the student when they taxable income)
Students who move to go to school can write off moving expenses when they start to work. Moving expenses that can't be used while you are attending school carry forward to be used when you start to earn income.
There's more...check out the students page on the CRA website:
http://www.cra-arc.gc.ca/tx/ndvdls/sgmnts/stdnts/menu-eng.html
Eileen Reppenhagen CGA does not research or endorse any product or service appearing in ads on this site. Before making any major financial decision(s) you should consult a qualified professional.
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