You must be at least 18 years old to apply for Income Assistance.
To determine your financial eligibility to receive Income Assistance, your household total income will be calculated. This means that if you are living with family members, their income will also be considered when determining if you are eligible to receive Income Assistance.
To determine if you are eligible to receive Income Assistance, you must report all forms of assets you own. Typically, individuals who receive Income Assistance can have up to 1,000 in liquid assets or up to $2,000 for a household. If you are eligible for Income Assistance in the Blind, Deaf, or Disabled categories, you can have liquid assets up to $10,000 per individual or family unit.
- Any capital or interest accumulated from a registered trust fund above $200,000 for people who qualify as Blind, Deaf, or Disabled
- Life insurance when an applicant or client applies for the funeral benefit.
- Interest earned from:
- Compensation payments under Federal or Provincial agreements
- HIV infected haemophiliacs and their survivors
- Thalidomide victims and their survivors
- Japanese Canadians
- Hepatitis C Victims and their survivors
- Compensation benefits under $50,000 made to abuse victims of:
- Kingsclear Youth Training School
- Dr. William F. Roberts Hospital
- Boys Industrial Home
- Liquid assets
- Money in bank accounts
- Investments that can be cashed, even if there is a penalty
- Items in security boxes that would be considered liquid assets otherwise
- Student aid, scholarships, and/or bursaries that are above the amount that would cover relevant educational costs (tuition, books, etc.)
Although you must report all forms of assets you own, some types of assets will not influence your eligibility to receive Income Assistance. These types of assets are called exempt assets.
Exempt assets include:
- Up to $200,000 in a registered trust fund for people who qualify as Blind, Deaf, or Disabled
- Up to $290,000 in funds invested in a Registered Disability Saving Plan (RDSP) for units with a Blind, Deaf or Disabled person
- Up to $800 per month from income generated from Trust Funds or RDSPs
- Special amounts may be allowed when it allows an individual to stay in the community or helps buy health supports
- Up to $50,000 in funds invested in RRSPs per unit with a Blind, Deaf or Disabled person
- Any funds invested in Registered Education Savings Plan (RESP's)
- All funds from a life insurance policy if the policy is dissolved
- Pre-arranged funeral that arrange prior to or at the time of their application
- Business assets for people who are self-employed
- Children’s Registered Education Savings Plan (RESP’s)
- “Learning Accounts” awarded through the “Futures to Discover” pilot project
- Investments that cannot be liquidated
- Student aid, scholarships, and/or bursaries that are used to cover educational costs (tuition, books, etc.)
Much like exempt assets, fixed assets will be noted in your application, but will not impact your eligibility to receive Income Assistance. If after 90 days the assets are no longer being used to generate income, they are no longer considered fixed assets.
Fixed assets include:
- Your primary vehicle, which is used for routine transportation, work, medical appointments, or other necessary travel
- Your place of residence
- Property and assets that are necessary to maintain your livelihood
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