Xref: utzoo uw.cs.grad:15 ont.general:1004 can.general:1615 Path: utzoo!utgpu!watmath!watcgl!kim From: kim@watsup.waterloo.edu (T. Kim Nguyen) Newsgroups: uw.sd.grad,uw.cs.grad,ont.general,can.general Subject: The Taxman Cometh for NSERC Award Recipients Message-ID: Date: 24 Aug 89 04:58:06 GMT Sender: daemon@watcgl.waterloo.edu Distribution: can Organization: PAMI Group, U. of Waterloo, Ontario Lines: 21 All you grad students out there...! Especially those of you receiving nice big scholarships like OGS or NSERC... I have a question that's just burning to get out: How does one reduce one's net taxable income to an acceptable level (ie. $0) if one receives a sizeable scholarship? From what I can tell and from a quick phone call to Revenue Canada, scholarship money does not qualify as "pensionable", so you cannot use that money when calculating how much you can contribute to, say, your RRSP. This makes little sense to me. After all, is the !@#$@ country giving you money or is it just going to take it all (well, partially) back? What's the point of saying that NSERC awards are for $13.5k when they're actually 30% less than that??? Can one contribute to some sort of pension plan to reduce the tax burden? -- T. Kim Nguyen kim@watsup.waterloo.{edu|cdn} kim@watsup.uwaterloo.ca {uunet|utzoo|utai|decvax}watmath!watsup!kim Systems Design Engineering -- University of Waterloo, Ontario, Canada