cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements

Reply to message

View discussion in a popup

Replying to:
Mario B
ProFile Team

Reply to message

You use the T1204 if you received one, for the federal return. For TP1, there is no RL27 in Profile, and there will not be.

 

In most cases, an RL-27 slip is issued for information purposes only. You do not have to enter it on your tax return. However, there are some exceptions:

 

If you hold a taxi owner's permit and have received a RL-27 slip indicating the allowance paid to compensate for the loss of value of your licence, you must enter the information found on your RL-27 slip in the Self-employment section to reduce the capital cost of the permit and the undepreciated capital cost (UCC) of the amortization category to which the permit belongs.

 

If you received a payment related to self-employment, you must reduce the amount of the corresponding expense or reduce the capital cost of the financed property or report it as other income in the Self-employment section.