I wanted to know does OSAP send a T4 form (tax form) and does the same happen for scholarships. I had OSAP loan, mcmaster scholarship, and queen elizabeth II scholarship, and a bursary. Will I be expecing a T4 form from all these?
thank you

I think those are included in your T4 slip from McMaster. Not sure though

so you're saying that osap, sholarship, queen elizabeth will all be included in the mcmaster t4 altogether?

just checked my tax certificate from mac and I dint see any spot for it, I thought I remembered seeing something for it. Id check OSAP's website, maybe there is something there, or you could also go and talk to the Office of Financial Aid and Scholarships

the main problem is that I need t4 forms for all the places where I recieved financial aid from. I got OSAP loan, mcmaster scholarship, queen elizabeth II, and some grants. But so far I've only recieved t4 form for a grant, queen elizabeth II. So, I don't know if I should expect one from OSAP and mcmaster scholarships as well.

your best bet would be to ask at SFAS

http://sfas.mcmaster.ca/

ok thank you for the help

Originally Posted by luna

the main problem is that I need t4 forms for all the places where I recieved financial aid from. I got OSAP loan, mcmaster scholarship, queen elizabeth II, and some grants. But so far I've only recieved t4 form for a grant, queen elizabeth II. So, I don't know if I should expect one from OSAP and mcmaster scholarships as well.

You should get T4A's (not T4's) for any scholarship / bursary / grant you receive. A loan is not income and you will not receive a T4A for it*. From the sounds of it you're just waiting on the McMaster scholarship T4A, SFAS (as someone else mentioned) is probably the place to inquire about that T4A.

Note that you don't necessarily have to wait on the T4A to file your taxes. If you know the $ amount of the mcmaster scholarship, you can include it in your filing while you sort out getting the T4A. You are required by law to be able to present the T4A if you are audited in the future so don't take this as a reason not to follow up with SFAS. You could also choose to file the taxes not including the McMaster scholarship amount and then refile when you get your T4A from McMaster. Whatever you do, make sure you file before the deadline of April 30th (even if your filing is incomplete), as you can be penalized for filing late.

*As a note for the future, once you start repaying the student loan, the interest you pay is tax deductible and you should receive a summary of interest paid from the student loan servicer.