Appendix 1

Loan application instructions for the 2016/2017 program year (for classes starting between Aug 1 2016 and July 31 2017)


Why am I being asked to complete Appendix 1: Parent(s)/Step-parent/Sponsor/Legal Guardian Information?

A student you know with Dependent (Group A) status has applied for student financial assistance and must have their parent(s)/step-parent/sponsor/legal guardian complete Appendix 1. Appendix 1 asks for information about your personal finances. This information is used to determine how much you may be required to contribute towards the student’s education.

The applicant will have access to information provided on your Appendix 1.

If the student is a permanent resident under sponsorship, the sponsor must complete Appendix 1.

If the student’s parents are separated or divorced, or if the parent is single, Appendix 1 must be completed by the parent who is the student’s main financial supporter.

Federal Policy
A financial contribution (based on federal policy) may be expected from a parent(s)/ step-parent/sponsor/legal guardian, based on family size, income, assets and allowable income deductions. The contribution formula takes into account parent(s)/step-parent/sponsor/legal guardian’s total income as declared on line 150 of their latest income tax return, less income taxes payable, Canada Pension Plan contributions, employment insurance contributions and a moderate standard of living. The income remaining following the deductions of these amounts is called “discretionary income.”

ALL INFORMATION IS SUBJECT TO AUDIT AND VERIFICATION


Q06. Marital status of parent(s)/step-parent/sponsor/legal guardian.

If you have remarried or are in a common-law relationship, your partner must provide his or her financial information. If you are separated, divorced or single, Appendix 1 must be completed by the parent who has legal responsibility for the applicant’s post-secondary education and/or is the main financial supporter.


Q20. Is the address of Parent 2 the same as previously entered for Parent 1?

Select “YES” to copy Parent 1 address to Parent 2.


Q34. How much will you and your spouse/common-law partner be giving the student during this study period:

For 2016/2017 applications.

Question 34(a): This information is used in the assessment of your B.C. student financial assistance calculation. Enter total money given to the student for this study period, including the total amount of cashed Registered Education Savings Plans (RESPs) and scholarship trust funds in Question 34a.

Question 34(b): This information is used in the assessment of your Canada student financial assistance calculation. What is an RESP? A Registered Education Savings Plan (RESP) is a special savings account that is registered by the Government of Canada and it allows for money that is deposited for post-secondary education to grow tax-free until the student enrols in post-secondary studies. The amount you cashed from your RESP can be from either the Educational Assistance Payment (EAP) portion or the Refund of Contribution (ROC) portion of the RESP. An EAP is made from the RESP’s accumulated income and government grants. An ROC is the return of all, or part of, the original contributions made to the plan. Enter only the EAP portion of the RESP in Question 34(b) that you will be giving to the student for this study period, along with all other contributions, including scholarship trust funds.

Q34. How much money will you and your spouse/common-law partner be giving the student during this study period, including Registered Education Savings Plans (RESPs) and Scholarship Trust Funds?

For 2015/2016 applications.

Include the amount of monetary assistance, including Registered Education Savings Plans RESPs), you will provide to the student completing this application for this study period.


Q35. Enter your reported income from line 150 of your 2015 Income Tax Return. If you did not file a 2015 Income Tax Return, enter your total income from all sources both inside and outside of Canada.

For 2016/2017 applications.

Enter the amount from line 150 of your 2015 income tax return. The line 150 amount you report will be verified against Canada Revenue Agency (CRA) records. If the amount you indicate is different from their records, CRA data will be used in the applicant’s needs assessment calculation. If CRA records are incorrect, you must submit an Appendix 1 (and Appendix 7) with documentation showing the correct amount. If you did not file a Canadian Income Tax Return, enter your total 2015 income from all sources both inside and outside Canada, including employment, pension, investment, net rental, RRSP, foster parent, net professional income, workers’ compensation, employment insurance, disability assistance, etc. Convert foreign currency into Canadian dollars. If you have foreign income (taxable income in any country outside Canada), it must be converted to Canadian dollars, added to any Canadian income and reported on Appendix 1). If you are married or living common-law, both Parent #1 and Parent #2 incomes must be completed even if “0”. Round all amounts to the nearest dollar. Single parents must complete and sign the “Parent #1” section of Appendix 1.

Q35. Enter your reported income from line 150 of your 2014 Income Tax Return. If you did not file a 2014 Income Tax Return, enter your total income from all sources both inside and outside of Canada.

For 2015/2016 applications.

Enter the amount from line 150 of your 2014 income tax return. The line 150 amount you report will be verified against Canada Revenue Agency (CRA) records. If the amount you indicate is different from their records, CRA data will be used in the applicant’s needs assessment calculation. If CRA records are incorrect, you must submit an Appendix 1 (and Appendix 7) with documentation showing the correct amount. If you did not file a Canadian Income Tax Return, enter your total 2014 income from all sources both inside and outside Canada, including employment, pension, investment, net rental, RRSP, foster parent, net professional income, workers’ compensation, employment insurance, disability assistance, etc. Convert foreign currency into Canadian dollars. If you are married or living common-law, both Parent #1 and Parent #2 incomes must be completed even if “0”. Round all amounts to the nearest dollar. Single parents must complete and sign the “Parent #1” section of Appendix 1.


Q36. Enter the total net value of all Canadian and foreign assets (no not include RRSPs, principal residence or business).

Include the net value of all Canadian and foreign assets, including term deposits, stocks, bonds, GICs, bank accounts, rental properties, etc. Do not include RRSPs, principal residence, business assets, vehicles or household items.


Q37. Total Income Tax (from line 435).

For 2016/2017 applications.

Refer to your 2015 income tax return to determine the amounts deducted for income taxes. If no deductions, you must enter ‘0’ on appropriate lines.


Q37. Total Income Tax (from line 435).

For 2015/2016 applications and earlier.

Refer to your 2014 income tax return to determine the amounts deducted for income taxes. If no deductions, you must enter ‘0’ on appropriate lines.


Q38. Canada Pension Plan contributions (CPP) from line 308 (contributions through employment).

For 2016/2017 applications.

Refer to your 2015 income tax return to determine the amounts deducted for Canada Pension Plan contributions. If no deductions, you must enter ‘0’ on appropriate lines.


Q38. Canada Pension Plan contributions (CPP) from line 308 (contributions through employment).

For 2015/2016 applications and earlier.

Refer to your 2014 income tax return to determine the amounts deducted for Canada Pension Plan contributions. If no deductions, you must enter ‘0’ on appropriate lines.


Q39. Canada Pension Plan contributions (CPP) from line 310 (contributions payable on self-employment and other earnings).

For 2016/2017 applications.

Refer to your 2015 income tax return to determine the amounts deducted for Canada Pension Plan contributions. If no deductions, you must enter ‘0’ on appropriate lines.


Q39. Canada Pension Plan contributions (CPP) from line 310 (contributions payable on self-employment and other earnings).

For 2015/2016 applications and earlier.

Refer to your 2014 income tax return to determine the amounts deducted for Canada Pension Plan contributions. If no deductions, you must enter ‘0’ on appropriate lines.


Q40. Employment Insurance (EI) from line 312.

For 2016/2017 applications.

Refer to your 2015 income tax return to determine the amounts deducted for employment insurance contributions. If no deductions, you must enter ‘0’ on appropriate lines.

Q40. Employment Insurance (EI) from line 312.

For 2015/2016 applications and earlier.

Refer to your 2014 income tax return to determine the amounts deducted for employment insurance contributions. If no deductions, you must enter ‘0’ on appropriate lines.


Q41. Do you have additional eligible dependants?

For 2016/2017 applications.

For StudentAid BC purposes, eligible dependants are any dependants for whom you receive the Canada Child Tax Benefit or for whom you claim a benefit on your 2015 income tax return. Eligible dependants include:

  • your child(ren) under 19 years of age as of the start of the applicant’s classes, for whom you have custody or provide care (they live with you) at least two days per week during the applicant’s entire study period; or
  • your child(ren) age 19 or over who are Dependent (Group A) students; or
  • your permanently disabled child(ren) age 19 or over, who you fully support and declare on your income tax return; or
  • your foster children, if foster parent income is claimed on Appendix 1 on line 35; or
  • your elderly relatives who you fully support and declare on your income tax return.

Q41. Do you have additional eligible dependants?

For 2015/2016 applications and earlier.

For StudentAid BC purposes, eligible dependants are any dependants for whom you receive the Canada Child Tax Benefit or for whom you claim a benefit on your 2014 income tax return. Eligible dependants include:

  • your child(ren) under 19 years of age as of the start of the applicant’s classes, for whom you have custody or provide care (they live with you) at least two days per week during the applicant’s entire study period; or
  • your child(ren) age 19 or over who are Dependent (Group A) students; or
  • your permanently disabled child(ren) age 19 or over, who you fully support and declare on your income tax return; or
  • your foster children, if foster parent income is claimed on Appendix 1 on line 35; or
  • your elderly relatives who you fully support and declare on your income tax return.
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