Line 14600 - Net federal supplements paid
Line 14600 - Net federal supplements paid
The guaranteed income supplement that you received in the tax year, in addition to the net amount of a spouse's allowance, are shown in box 21 of your T4A(OAS) slip and must be reported as income.
If you have a question about the amounts shown on your T4A(OAS) slip or your entitlement or eligibility for the guaranteed income supplement, contact Service Canada or call 1-800-277-9914.
Report on line 14600 of your return the amount from box 21 of your T4A(OAS) slip. If the amount is negative, enter "0".
If your net income before adjustments on line 23400 of your return is:
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$90,997 or less, claim a deduction on line 25000 of your return for the net federal supplements paid that you entered on line 14600
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more than $90,997, see line 25000
Other amounts you have to report on your return
Retroactive lump-sum payments
If you received a lump-sum payment of eligible income in 2024, parts of which were for previous years after 1977, you must report the whole payment on the appropriate line of your 2024 return. These amounts are shown on a completed Form T1198, Statement of Qualifying Retroactive Lump-Sum Payment, issued by the payer.
You can ask the CRA to tax the parts from previous years as if you received them in those years. The CRA can apply this calculation to the parts that relate to years you were resident in Canada if the total of those parts is $3,000 or more (not including interest) and the result of the calculation is better for you. The CRA will tell you the result on your notice of assessment or reassessment.
Loans and transfers of property
You may have to report income, such as dividends (line 12000 of your return) or interest (line 12100 of your return) from property, including money and any replacement property, that you loaned or transferred to your spouse or common-law partner or a related minor (including a niece or a nephew) under 18 years of age at the end of 2024. This includes loans or transfers to a trust in favour of such a person.
You may also have to report capital gains (line 12700 of your return) from property that you loaned or transferred to your spouse or common-law partner or to a trust for your spouse or common-law partner.
For more information, see archived Interpretation Bulletin IT-510, Transfers and Loans of Property made after May 22, 1985 to a Related Minor, Interpretation Bulletin IT-511R, Interspousal and Certain Other Transfers and Loans of Property, and Guide T4013, T3 Trust Guide.
Tax shelters
To claim deductions, losses or credits from tax shelter investments, see your T5003 and T5013 slips, and complete Form T5004, Claim for Tax Shelter Loss or Deduction. For more information about tax shelters, go to canada.ca/cra-tax-shelters.
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