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Garry’s Case
Garry is a single student with a parental contribution. He is beginning his second year of university and received student financial assistance during the previous winter period. During the fall and winter periods, he was deemed to be living with his parents. In the summer, he earned $5 000 and was not living with his parents.
To calculate Garry’s contribution |
|
| Number of months in which no expenses are allowed: 4 months (from May to August inclusively) Evaluation of protected income: 4 X $1 110 = $4 440 |
|
| Employment income | $5 000 |
| Exemptions Basic exemption Employment income (max.: 30% of protected income) $1 332 Additional exemption Student who is deemed to be living with his or her parents 5% of employment income (max.: 5% of protected income) $222 Total exemption |
- $1 554 |
| Employment income minus total exemption ($5 000 - $1 554) | $3 446 |
| Contribution determined according to employment income (50% of previous amount) |
$1 723 |
| Contribution reduction Student who is not deemed to be living with his or her parents and who is working 4 months X $380 $1 520 Total contribution reduction |
- $1 520 |
| Garry’s contribution | $203 |
