Aide financière aux études systematically verifies your income with Revenu Québec. The purpose is to compare the income you declared in your application for financial assistance with the figure you reported in your tax returns.
The following two situations can occur if there are any discrepancies between income declared to Aide financière aux études and income reported to Revenu Québec:
- A new assessment of your financial assistance is automatically made, following which the amount of your assistance could decrease and funds reclaimed from you
- Additional information is required and you will receive one of the following income verification notices:
- Request for information about your declared income for […]
- Request for information regarding your declared income and your income indicated on tax slips submitted to Revenu Québec for […]
- Verification of your income for […]
Notice of verification of your income
If you receive an income verification notice, it is important that you respond as quickly as possible in order to regularize your file.
You will need to provide the following:
- Copies of your provincial and federal tax assessments
- Copies of all of your tax slips
- All other documents requested in the letter
- A sufficient explanation justifying the discrepancy between the information received from Revenu Québec and the information in our files
If you did not file a tax return with Revenu Québec, you will need to justify your income for the January 1-December 31 tax year, failing which your assistance may be suspended or reclaimed for the entire award year.
Examples of income not considered
Line 154 of the Revenu Québec tax return includes a variety of income sources. Depending on the type, income may be considered at 100%, 50%, or 0% in the process of calculating student financial assistance. As an example, the following types of income are not considered:
- Registered Education Savings Plan (RESP) – Provide Relevé 1
- Lifelong Learning Plan (LLP) – Provide Relevé 1 or Relevé 2, as the case may be
- Registered Retirement Savings Plan (RRSP) – Provide Relevé 2
- Home Buyers’ Plan (HBP) – Provide the federal assessment notice
If you do not provide the requested information, you could find yourself in a false declaration situation. If this occurs, all financial assistance payments to you will be suspended and any overpayments reclaimed, as provided in the Act respecting financial assistance for education expenses.