As a student, scholarships, grants, and bursaries can provide some much-needed financial relief. However, the Canada Revenue Agency (CRA) treats these amounts like income, and you need to report them on your tax return.
Generally speaking, these amounts are shown on either a T4A or RL-1 slip. But even if they aren’t, you still have to report them on your return.
Tax tip: If you’re not eligible to claim the federal tuition amount, you’ll only need to report the amount of your scholarships, grants, and bursaries that is over $500.
Example: Judy received a scholarship worth $750 to help pay for a course she is taking, but she does not meet the eligibility requirements to claim the federal tuition amount. As a result, Judy only needs to report $250 of the scholarship amount on her return ($750 - $500).
Where do I claim this?
Follow these steps in H&R Block’s 2017 tax software:
- Under the PREPARE tab, click the IN THIS SECTION icon.
- Under Unused tuition amounts you carried forward from a previous year, interest paid on a student loan, and money received for school (a scholarship, grant, etc.), click the Add This button.
- Click the STUDENTS icon. You'll find yourself here:
- Under the INCOME section, select the checkbox labelled Scholarships, grants, and bursaries.
- When you arrive at the page for the Scholarships, grants, and bursaries enter your information into the software.