Revenu Québec recently released the RL-1 (Employment and Other Income) for tax year 2024. Beginning January 1, 2024, employers must withhold a second Quebec Pension Plan (QPP) contribution from an employee’s pensionable salary or wages. There are several changes to the RL-1 to reflect this change. Box B (QPP Contribution) has been retitled Box B.A. A new field titled Box B.B (Additional QPP contribution) has been added to the form for reporting the second additional QPP contribution. Box U (Phased Retirement Income) has been removed from the form, but phased retirement income will still be reported under ‘Additional Information’ using the new Box G-3.
Several other fields were updated as a result of the capital gains inclusion rate increase. Box L-9 and Box L-10 have been updated to only allow reporting of security option deductions granted before June 25, 2024. Box L-12 and Box L-13 have been added to report security option deductions granted on or after June 25, 2025. Box L-11 has been added to report the rate of the deduction entered in Box L-12 or Box L-13.
Other notable updates include the removal of Box O-5 (Incentive Program to Retain Essential Workers (IPREW) benefits) and the addition of Box B-2 (Additional Canada Pension Plan (CPP) Contribution).
The 2024 Slip RL-1 is not publicly available yet. Sovos obtained access through Revenu Québec’s Partner program for product developers and other tax professionals. The form should reflect the same changes once it is made available to the public, which should be available through Revenu Québec’s website in the near future.
