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IRS EDUCATION CREDIT INFORMATION WORKSHOP Prepared by: Terry-Lynn McNab Feb 12 2014.

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Presentation on theme: "IRS EDUCATION CREDIT INFORMATION WORKSHOP Prepared by: Terry-Lynn McNab Feb 12 2014."— Presentation transcript:

1 IRS EDUCATION CREDIT INFORMATION WORKSHOP Prepared by: Terry-Lynn McNab Feb

2 Agenda Opening Prayer, Elder Opening Remarks Presentation, Ed Bitternose Question and Answer Session Closing Remarks

3 What is the Indian Residential School Settlement Agreement? IRS Settlement Agreement implementation began on Sept. 19, 2007 following negotiations and consensus from legal counsel for former students, the churches, AFN and the Government Goal to achieve fair and lasting resolution of the legacy of IRS so formers students can benefit from the individual and collective measures

4 What is the Indian Residential School Settlement Agreement? The Settlement Agreement includes five different elements to address the legacy of Indian Residential Schools: A Common Experience Payment (CEP) for all eligible former students of Indian Residential Schools; An Independent Assessment Process (IAP) for claims of sexual or serious physical abuse; Measures to support healing Commemorative activities; and, The establishment of a Truth and Reconciliation Commission (TRC).

5 What is the Indian Residential School Settlement Agreement? IRS Settlement Agreement purpose: Bring closure to the legacy of Indian residential schools lies at the heart of reconciliation A renewal of the relationships between Aboriginal people who attended these schools, their families and communities, and all Canadians.

6 Common Experience Payment Paid to all eligible former students who resided at a recognized Indian Residential School The deadline for applying for the CEP was September 19, A number of applications for the CEP are still under review According to the Settlement Agreement, Canada is the trustee for the $1.9 billion set aside for the CEP and accountable to the parties of the Settlement Agreement and to the courts.

7 Common Experience Payment After the CEP application deadline has passed, an audit will be conducted to determine if there are excess funds If more than $40 million remains in the Trust Fund, the funds are to be made available to CEP Recipients Each eligible person may receive a maximum of $3,000 - funds will be distributed in the form of Personal Credits.

8 Personal Credit Personal Credits are credits that can be redeemed for education services for an individual or group They have no cash value and can only be redeemed at designated educational institutions Provision of the IRS Settlement Agreement

9 Personal Credits Personal Credits can be: a) Redeemed by an individual b) Transferred to a family member; or c) Pooled together with other peoples Personal Credits and redeemed at one educational institution for group education service.

10 Personal Credit The credit can be applied toward costs such as tuition and services The credits can also be used for community-based organizations and centres that provide cultural, language and history programs.

11 Personal Credit The credit can be shared; applicants may choose to use the credit partially and transfer the remainder or the entire credit to a maximum of two family members Applicants can also decide to pool their credits with other applicants to pay for a group educational or cultural service

12 Personal Credit Terms and Conditions for Personal Credits have been developed by Canada and the Assembly of First Nations and by Canada and Inuit Representatives to determine which Education Entities and Groups and which Educational Programs and Services are eligible; Terms and Conditions Once the Personal Credits have been distributed, any amount remaining in the Trust Fund on January 1, 2015 is to be paid to the National Indian Brotherhood Trust Fund (AFN) and the Inuvialuit Education Foundation to be used for educational programs.

13 Personal Credit Important Deadlines Deadline to submit your Personal Credits Acknowledgement Form: postmarked by October 31, Deadline for Education Entity or Group to submit Personal Credits Redemption Form: postmarked by December 1, All inactive files will be closed on December 1, 2014.

14 Applying for Personal Credits In January 2014, a Personal Credits Acknowledgement Form will be mailed to each CEP Recipient who has received a CEP payment. The Acknowledgment Form must be completed and returned to the Personal Credits Administrator postmarked no later than October 31, 2014.Personal Credits Acknowledgement Form If you have not received your Acknowledgement Form by February 1 st, 2014, please call the Personal Credits Help Desk at or (TTY).

15 The End Questions???? Thank you for attending


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