On June 19, 2024, Revenu Quebec announced the harmonization with the federal government regarding capital gains and later announced changes to the stock options reporting on the Releve-1 slip.
Modifications:
L-9 – becomes: Deduction for stock option under section 725.2 of the Taxation Act – Benefit granted before June 25, 2024 (line 297)
L-10 – becomes: Deduction for stock option under section 725.3 of the Taxation Act – Benefit granted before June 25, 2024 (line 297)
Addition:
L-11: Rate of deduction entered in box L-12 or L-13
L-12: Deduction for stock option under section 725.2 of the Taxation Act – Benefit granted after June 24, 2024 (line 297)
L-13: Deduction for stock option under section 725.3 of the Taxation Act – Benefit granted after June 24, 2024 (line 297)
The table below summarizes the RL-1 reporting requirements for the 2024 tax year.
|
|
January 1 to June 24, 2024 |
June 25 to December 31, 2024, and beyond |
|
Taxable Benefit |
Box A and L |
Box A and L |
|
Stock Deduction (non-CCPC) |
Footnote Code L-9 (25% or 50% of Box L) |
Footnote Code L-12 (25% or 33.33% of Box L) |
|
Stock Deduction (CCPC) |
Footnote Code L-10 (25% or 50% of Box L) |
Footnote Code L-13 (25% or 33.33% of Box L) |
|
Rate of deduction entered in Box L-12 or L-13 |
|
Footnote Code L-11 |