Hi,
I am trying to prepare my return using UFile.ca. and I have a question about T4A slip.

My wife is doing her Masters and has received T4A form from her university and the footnote codes say it to be "05".

But when I specify the amount under "Other income" and choose the code as "05", UFile doesn't include it as income.

My understanding is that the footnote codes 05 is: Scholarships, fellowships, bursaries, and artists’ project grants


I checked the CRA website and it says that

"Scholarships, fellowships, bursaries, and artists’ project grants":
Under proposed legislation, elementary and secondary school scholarships and bursaries are not taxable.

So this amount should be taxable as the Masters degree comes under post- secondary education.

Is my understanding correct ? Am I doing anything wrong while filling the Forms using ufile? Am I missing something ?

Thanks

deleted... please see below.

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Quote:

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Originally posted by MeagainMe

Hi,
I am trying to prepare my return using UFile.ca. and I have a question about T4A slip.

My wife is doing her Masters and has received T4A form from her university and the footnote codes say it to be "05".

But when I specify the amount under "Other income" and choose the code as "05", UFile doesn't include it as income.

My understanding is that the footnote codes 05 is: Scholarships, fellowships, bursaries, and artists’ project grants


I checked the CRA website and it says that

"Scholarships, fellowships, bursaries, and artists’ project grants":
Under proposed legislation, elementary and secondary school scholarships and bursaries are not taxable.

So this amount should be taxable as the Masters degree comes under post- secondary education.

Is my understanding correct ? Am I doing anything wrong while filling the Forms using ufile? Am I missing something ?

Thanks

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Thanks Mr. Pramod. I wen through that link but it says
"If you are not eligible for the education amount" ...what is the sligibility criteria ?

My understanding is that if you're getting scholarship for education then obv you're eligible otherwise why would somebody get scholarship for education without actually pursuing it ?.

Quote:

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Originally posted by MeagainMe

Thanks Mr. Pramod. I wen through that link but it says
"If you are not eligible for the education amount" ...what is the eligibility criteria ?

My understanding is that if you're getting scholarship for education then obv you're eligible otherwise why would somebody get scholarship for education without actually pursuing it ?.

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Thanks Mr. Pramod. That information was useful.