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I'm applying for student loan repayment assistance. As part of the process I need to prove my income for last month. The instructions are:

"The following documents are acceptable as proof of income:

  • Copies of pay stubs showing your Total Gross Monthly Family Income (before taxes and other deductions). Please note. if you do not have all of your pay stubs for the months indicated, please obtain a letter from your employer detailing your gross income, broken down by month;
  • Copies of employment insurance and social assistance stubs (or a letter from a case worker stating gross income); and
  • If you are self-employed, a monthly business bank statement, or third-party letter signed by your financial institution or letter showing revenue and expense signed by an accountant."

I work on a very irregular schedule. I am registered with an agency that takes a cut of the checks I get. I asked them how much I made in the month, and they told me, but as for an official document that would be considered proof I don't know what I can get? I get a T4A so I think this means I'm considered self-employed but I don't have an accountant. Also when entering the amount, should I deduct the cut the agency takes? The word used is "gross monthly income". When I do get checks they have a pay stub, but not for the whole month, just for the day of work.

  • You don't really have a monthly income, just an average monthly income. Possibly you could use paystubs over a period of time to establish your average, but it seems like it would be very easy to under-report your average by simply providing a selection of pay stubs. Several months of bank statements showing deposits may be enough to establish your average. – chepner Feb 23 at 18:38
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    The section you quoted specifically says what to do if you're self-employed. Why can't you do that thing? Also, this company you mentioned who handles your checks... If they can tell you how much you've made in a month, they should be able to provide documentation that proves it, too. – Steve-O Feb 23 at 19:19
  • @Steve-O maybe I'm misreading it but I don't think I can produce any of the documentation. I don't have a business bank statement (unless that's the same as a regular one). I don't have an accountant. I could ask the bank if they would sign something, but what specifically would I be asking for? Payroll is done through one of two third party companies which I have never had to contact. I can try, but again what exactly should I ask for? Is their a specific name of a document, or if I email them asking what I made and they reply, would that email be sufficient evidence? – titchseason Feb 24 at 1:03
  • I am not at all familiar with Canadian law, I'm not a lawyer, and all that stuff. But I think you should probably consult with a business law attorney about the risks and benefits of incorporation and separating your business' banking from your personal banking. I understand that it's a lot of extra paperwork, but from what I have heard, keeping your business and personal assets commingled is an incredibly huge risk and makes things like getting this student loan a huge hassle. – Ed Grimm Feb 24 at 3:13
  • @titchseason I'm no expert on self-employment law, so I can't answer your questions myself. My point was mainly that you have a passage about self-employment there but you give no indication in your question that you've tried to do what it says. I'd start by talking to whichever bank you keep your money in and see what they say about all this. – Steve-O Feb 24 at 18:21
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you can deposite all payment you recieve.after 3 months you can get a bank statement and you can prove your income.

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