I have a client who provided me with a signed QRLSP for 2019 (approx. $29,000) signed in January 2020. It says on the form that taxes must be paper filed. What else do I need to know and include in the 2020 taxes? Thank you in advance.

There is a good possibility you don’t need to include anything with the 2020 income tax return. You said the T1198 QRLSP is for 2019, so you need to establish or confirm what year this relates to. There had to be an income receipt (possibly a T4A) to report the lump sum payment as income. What ye…

Employer was Sun Life. T4 and T4A, for both years, don’t match the amount on the T1198. Due to husband’s passing in 2019, she experienced a huge increase in income due to his teachers pension and CPP survivors benefit along with additional income from wage loss replacement. T1198 puts the income t…

I too have a client who received a QRLSP dated February 2021 for an Arbitration Award relating to the Collective Agreement at work. Current year = $0.00 (I’m guessing this would be 2020 ?) 1st Prior year = $1,478 2nd Prior year = $266 Total Principal (current and prior years = $1,744). No inte…

I should add that the client didn’t receive any additional tax slips documenting this income. It’s unidentifiable looking at his T4 slips for both 2020 or 2019. And no additional tax slips on CRA’s website documenting this income.

I resolved my question. Another client dropped off his taxes, and to my surprise worked for the same employer. This client had T1198 QRLSP (x2) slips totaling more than $5K. With this new client, comparing his T4 Box 14 with my 5 year summary, it was clear that this income was included on this yea…

New client with unfiled tax returns for 2019 & 2020. Included in his paperwork are, 1 QRLSP form for year-of-payment in 2019 with >$40,000 Pay Equity Lump Sum Payment ($10754 in 2016, $14,986 in 2017 and $14,510 in 2018). The 2nd QRLSP, Arbitration Award, year-of-payment 2020, total of $3691 (1st …

Yes, you can include both tax returns in the same envelope when you send them to CRA. I do this all the time so that they are processed together. This works the same way as when we e-file multiple years of returns together and want them processed together. Here, we e-file starting from the oldest…

Thanks for your input Gerry. This was my first choice. Keep well & busy. :wink:

Qrlsp - t1198

hudson April 6, 2021, 8:07pm 2

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/special-payments/qualifying-retroactive-lump-payments.html

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Qrlsp - t1198

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