newby

HI,

I received my T4A slips for my bursary last year. but two weeks ago, the aide financiere studes Quebec called me saying that they overpaid me 400$ after they reevaluated my financial status last year, last week I sent them a check for payback of the over paid bursary.

my question is in the T4A slip the amount indicated my old bursary, but since I payback 400$ for that amount,  I noticed that the Aide financiere studes Quebec never give you a modified T4A slip,  

shoud I reduce my bursary amount for my tax return by myself? or is there anything I can do? if I cut off the 400$ payback, I will not pay my balance due, otherwise I will pay the Quebec government about 100$ due.

any idea is appreciated.


thanks

sofunny

No, no problem. Don't worry about the repayment and you can and can only claim it in the 2005 income tax return next year.

Post by newby
HI,

I received my T4A slips for my bursary last year. but two weeks ago, the aide financiere studes Quebec called me saying that they overpaid me 400$ after they reevaluated my financial status last year, last week I sent them a check for payback of the over paid bursary.

my question is in the T4A slip the amount indicated my old bursary, but since I payback 400$ for that amount, I noticed that the Aide financiere studes Quebec never give you a modified T4A slip,

shoud I reduce my bursary amount for my tax return by myself? or is there anything I can do? if I cut off the 400$ payback, I will not pay my balance due, otherwise I will pay the Quebec government about 100$ due.

any idea is appreciated.


thanks

newby

first thanks for your adivce.

Post by sofunny
No, no problem. Don't worry about the repayment and you can and can only claim it in the 2005 income tax return next year.

but if my recall is right, I never received any kind of document from the Aide financiere des studes Quebec saying (for example) my previous years bursary was 2000$ not 2500$ (because I paid back the $500 last year) and I should claim the 500$ in the current year.

Actually, this is not the first time I met this kind of problem, before since my income was low so I did not pay attention of this issue, but this year  my income is relatively high ( ), so I noticed the difference when I prepared my tax return.

sofunny

but you said  the aide financiere studes Quebec called you and you sent them a check for payback of the overpayment. It's enough. For Quebec, please refer to Line 250 (Point 1)  and Line 276. For federal, I believe you can understand the associated explanation on the guide.

sofunny

Moreover, if your repayment was made in 2005, you will receive some slip next year, for which I am not sure since I never receive either loan or bursary from the government.

newby

thank you ofunny,

I just called the ministere education clarified my question, your answer is right. they told me that they will send me a slip next year and I can deduct the amoutn I paid back this year.

Post by sofunny
Moreover, if your repayment was made in 2005, you will receive some slip next year, for which I am not sure since I never receive either loan or bursary from the government.

:cool: