RL-25 Slip – Income from a Profit-Sharing Plan

RL-25 Slip – Income from a Profit-Sharing Plan

The RL-25 slip must be filed by any trustee of a profit-sharing plan. A beneficiary's employer can file an RL-25 slip on a trustee's behalf.

How to Complete the RL-25 Slip (Box by Box Instructions)

Box A1

Actual amount of eligible dividends (line 166). The taxable amount of such dividends is shown in box F.

Box A2

Actual amount of ordinary dividends (line 167). The taxable amount of such dividends is shown in box F.

Box B

Capital gains (or losses) not used in calculating the capital gains deduction on qualified property (line 22 of Schedule G)

Box C

Capital gains (or losses) used in calculating the capital gains deduction on qualified property (line 56 of Schedule G)

Box D

Other amounts allocated or paid. Contributions paid by your employer and allocated to you for the year, included in this box, are used to calculate the special tax. Complete form TP-1129.RI-V, Special Tax on an Excess Amount Under a Profit-Sharing Plan.

Box E

Cancelled allocations. A deduction may be claimed on line 207 of your income tax return if this amount was included in the income reported for the years in which an allocation was made.

Box F

Taxable amount of eligible and ordinary dividends (line 128)

Box G

Dividend tax credit (line 415)

Box H

Foreign income tax on non-business income. This amount is used to calculate the foreign tax credit. Complete form TP-772-V, Foreign Tax Credit

Box I

Québec income tax withheld at source (line 451)

Boxes under “Renseignements complémentaires” (additional information) Box B-1

Foreign capital gains realized

Box C-1

Capital gains (or losses): Qualified farm or fishing property

Box C-2

Capital gains (or losses): Qualified small business corporation shares

Box D-1

Amounts allocated, on which a Québec Pension Plan (QPP) contribution was made (line 101)

Box D-2

Amounts allocated or paid, on which a QPP contribution was not made (line 107)

Box D-3

Amount of foreign non-business income for which an amount of foreign income tax is shown in box H

For further information please contact Taxtron Support at 416-491-0333 or visit www.taxtron.ca