Management fee discount - Tax treatmentWith your investment portfolio management firm, you have management fee discounts on some accounts.
Your advisor has probably sent you a document regarding the tax treatment of these management fee rebates.
There are two (2) options, the first is to pay tax on management fee rebates and the second to defer the payment of tax on your management fee rebates.
For the second option, we suggest you contact your investment advisor, who will advise you better on this second option.
However, if you wish to choose the first option, to pay the tax on this management fee discount, please follow the procedure below.
1. On the "Left-side menu on the Interview tab", select the heading "Other income ".
2. On the page appearing on the right, click on the plus sign "+" icon located on the right of the line "Other taxable income (Federal line 13000)".
3. On the page, which is generated go to the line "Description and amount of other income not included in the CNIL". On the field to your right, indicate that it is "A refund of fees" and enter the amount of the rebate you were granted on the next field.
This amount will be reported by the program on line 13000 of the Federal return and, for Quebec residents, on line 154 of the Quebec return and code 15 will be entered on line 153.
ID: 20191113101349NA.xml
Webpage: KPA310-20191113101349NA.htm