I’m looking for some guidance on the money received by a student and the reporting on the T1.
The individual received $13,000 for fellowship and $21,953 as a stipend. The individual is studying PhD degree (not in medicine). These amounts were reported on a T4A slip in box 105.
How should these amounts be reported on the T1? I do not believe 100% of the amounts received should be tax-exempt.
Thanks in advance for your guidance.
What type of organization issued the T4A?
The University of Toronto.
Scholarships are special.
Refer to:
Income Tax Folio S1-F2-C3, Scholarships, Research Grants and Other Education Assistance
For post doctoral fellows refer to this.
Post-doctoral fellows
There as special rules for those who are temporarily outside of Canada.
With additional questions, call CRA Personal Enquiries, and ask to be connected to a specialist in Student Stipends, Fellowships, and Grants.
Please note that sometimes certain expenses are claimable.