Question
Retro pay from Bill 124
Is it safe to tell the client, for this year your refund is $**. When CRA receives the T1198, they will adjust the years accordingly and if you received a refund in past years, with extra income you might have to repay an amount to reflect the overpayment of the refund in the year in question. As it stated on the T1198, I have to include full amount of retro pay on 2024, so that one will also change. More likely a little more on the refund or a little less to owe
