Income Support, Training and Health Benefits Regulation, sections 1(1)(p) and 48
Federal Child Benefit Amounts (Advanced Education)
Federal Child Benefit Amounts (Labour and Immigration)
Full Time Learners: Schedules 1, 2, 3 and 4 (Advanced Education)
Full Time Learners: Schedules 1, 2, 3 and 4 (Labour and Immigration)

INTENT

Training is a joint responsibility between government, the learner, and the learner’s spouse. Where possible, learners are to contribute as much as possible financially to their training. Only a portion of liquid assets are used to determine eligibility to ensure that:

• learners are encouraged to manage their funds and save for their children’s futures, and
• learners may have some resources they can use to purchase items that are not available through the Income Support program

POLICY

Liquid assets include:

• cash on hand
• cash in a financial institution or held by a third party that is available on demand to the individual
• assets, other than exempt assets, that are readily convertible into cash (e.g., stocks, term deposits, bonds, Guaranteed Investment Certificates (GICs) and other securities)
• income tax refunds

Liquid Asset Test

Allowable liquid assets for a learner household must be less than (3 x Monthly Core Benefits) + $10,000.

Monthly Core Benefits for a learner household = Monthly Core Essential + Monthly Core Shelter + High School Incentive Benefit + Handicap Benefit

Note
Monthly Core Benefits for a Non-EI learner include the federal child benefit amount.

If the learner is applying for a transitional vocational program or self-employment approved program, then the liquid asset test does not apply. See Overview Assets - General for exceptions for Sponsored Immigrants, Transitional Vocational and Self-Employed programs.

Individuals who have more than the ‘allowable liquid assets’ are not eligible to receive income support benefits.