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2005 tax slip Have you received a tax slip for your bursary? Did you not receive a slip, and are wondering why?
A Relevé 1 (tax slip) must be issued for every bursary amount paid during a fiscal year. Every loan amount converted to a bursary and every amount granted under a loan remission is considered a bursary. The bursary payment date is the date on which the loan-to-bursary conversion took place or the date on which the loan remission was granted.
Thus, for the 2005 fiscal year, Aide financière aux etudes has sent a Relevé 1 to those persons for whom a loan-to-bursary conversion was made in 2005, or to whom a loan remission was granted during the 2005 fiscal year. The amount of the bursary is shown in box O on the slip.
What is a loan-to-bursary conversion?
During the school year, which runs from September 1 to August 31, the total amount of financial assistance to which you are entitled (both the portion corresponding to the loan and the portion corresponding to the bursary) is paid to you in the form of a loan. At the end of the school year, after verifying your income with Revenu Québec, the government repays your financial institution the portion corresponding to the bursary. This is what we call a loan-to-bursary conversion. You will then receive a confirmation of this bank transaction.
You can check your Financial Assistance Statement and loan-to-bursary conversion notices relating to your file for 2004-2005 under On-Line Access to Your File!
2004-2005 transition year
Please note that the period for converting loans to bursaries during the 2005 fiscal year was a longer reference period than usual, namely 16 months instead of the usual 12. This is because the 2004-2005 award year began in May 2004 and ended in August 2005.
If you have not received a tax slip
This is because, according to your file, you had no loans converted to a bursary or loan remission during the 2005 fiscal year.
March 21, 2006
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