Line 41800 – Special taxes

Additional tax on RESP accumulated income payments

An accumulated income payment (AIP) is a payment from your registered education savings plan (RESP) that is not:

AIPs are shown in box 040 of your T4A slips. Include the total of all AIPs on line 13000 of your return.

There is an additional tax on this amount. However, the amount may be lowered or reduced to zero if all of the following conditions are met:

If you received an AIP from a registered education savings plan (RESP) in the year, you may have to pay an additional tax on all or part of the amount shown in box 040 of your T4A slips. Complete Form T1172, Additional Tax on Accumulated Income Payments from RESPs. For more information, see Guide RC4092, Registered Education Savings Plans (RESPs).

Tax on excess employees profit-sharing plan (EPSP) amounts

You may have to pay a tax if both of the following apply:

Complete Form RC359, Tax on Excess Employees Profit Sharing Plan Amounts.

Tax related to not purchasing replacement shares in a Quebec labour-sponsored fund

You must pay a special tax if you redeemed your shares in a Quebec labour-sponsored fund to participate in the Home Buyer's Plan (HBP) or the Lifelong Learning Plan (LLP), but did not buy replacement shares within the prescribed time.

The special tax is the portion of the federal tax credit that you received for the acquisition of the shares that were redeemed to participate in the HBP or LLP and were not replaced within the prescribed time.

Report on line 41800 of your return the total of the amounts from boxes F and L1, plus 60% of box L2 and 75% of box L3 of your Relevé 10 information slips (official slip for the Province of Quebec).

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