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T1
428 Provincial tax and credits
  Error code C0424T regarding the tax credit for a labour-sponsored fund on Quebec line 424 |
| Program(s) affected: |
T1 |
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Document created: |
04 10, 2023 |
| Tax year(s): |
2022 |
Document last modified: |
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| Version(s): |
26.12, 26.14, 26.20 |
Problem status: |
Fixed in v26.21 |
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In order to comply with Revenu Québec's requirements for the 2022 tax season, we have made the necessary changes from version 26.12 so that the tax credit for a labour-sponsored fund cannot exceed $750. However, as of April 4, 2023, Revenu Québec has made changes again regarding error code CO424T to revert the maximum credit for line 424 to $1,000.
Your client may be entitled to a credit of up to $1,000 if he or she had Fondaction contributions (RL-10 slip) prior to June 1, 2021, and the credit was carried forward in full to 2022; or if a combination of a portion of the credit was carried forward from 2021 with Fondaction or FTQ contributions in 2022.
If your client's credit exceeds the $750 amount that was established by Revenu Québec, please use the keyword Override to enter the appropriate amount on line 424 (this amount cannot exceed $1,000).
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