# Property Property Any personal property or real property

• Slides: 10

Property

Property • Any personal property or real property owned by the person or family which is not specifically excluded by the regulation is recorded in the file and taken into consideration when calculating the allocation.

EXCLUSIONS • • Basic exclusions (03. 02) Total exclusions (03. 02. 03); (03. 02. 04) Partial exclusions (03. 02. 05); (03. 02. 06) Exclusions for legal impediment (03. 02. 07)

CALCULATED RESOURCE The following equation is used to determine the calculable resource that is attributable to the property owned by the client: Total property value – exclusion x 2% = calculated resource The exclusion amount varies depending on the property.

BASIC EXCLUSION • The basic exclusion allowed on the total property value is: \$1, 500 for a single person \$2, 500 for a family Careful! The value of the property used to practice traditional activities (e. g. : pickup trucks, all -terrain vehicles, snowmobiles, generators, etc. ) is excluded from the calculation.

BASIC EXCLUSION - EXAMPLE An income security client family has a cottage valued at \$9, 000. • The property value will be calculated in the following way: \$9, 000 - \$2, 500 (basic exclusion) = \$6, 500 x 2% = \$130 • The financial assistance allocation will therefore be reduced by an amount of \$130.

TOTAL EXCLUSIONS • Examples: – Furniture and household effects – Instruments and tools needed to perform a job – Property acquired using compensation paid by the government – Etc.

PARTIAL EXCLUSIONS Property excluded up to a net value of \$154 897 • Examples: – The net value of a home – Capital for damages paid as compensation for real property – Etc.

PARTIAL EXCLUSIONS (cont. ) LIMITED CAPACITY FOR EMPLOYMENT Property excluded up to a net value of \$221 716 • Several combinations are possible since it is the total value of all the property and liquid assets that must not exceed the amount of \$221 716 (which is not the case for those without limited capacity for employment)

PARTIAL EXCLUSION – MOTOR VEHICLE • The value of a motor vehicle is excluded from the benefit calculation for up to \$10, 000.