T1198
In version 2024.3.0, T1198 says draft and needs to be paper filed.
As per CRA T1198 now can be filed. When will profile update the form?
New for the 2025 tax filing season!
The CRA is introducing an enhancement for the 2025 tax filing season that will allow you to file electronic returns for individuals that have received payments that are considered Qualifying retroactive lump-sum payments (QRLSP). (Applicable to tax year 2024 and later years only.)
Effective February 24, 2025, if an individual provides you with a form T1198, Statement of Qualifying Retroactive Lump‑Sum Payment, or a letter from their employer that contains the same information, you can file the return electronically and advise the individual to keep the T1198 or letter for their records in case the CRA asks to see it at a later date.
You will also be able to submit electronic adjustment requests for your clients if all other conditions have been met.
