What is the purpose of RL-10?
Your RL-10 contains two essential sections.
The top section allows you to claim labour-sponsored funds tax credits (the famous +30%[1]).
The bottom section allows you to claim RRSP deductions for your RRSP+ contributions.
When will I receive my statements?
RL-10 slips are issued twice a year when you make contributions:
- Around mid-January, for contributions made between March 1 and December 31 of the previous year.
- Around mid-March, for contributions made in the first 60 days of the current year.
You must use all slips produced for you to complete your income tax returns (T1 and TP-1).
If your communication preferences are set to paper, you will receive your RL-10 by mail a few days after it is produced.
If your communication preferences are set to digital, you will immediately receive an e-mail notification reminding you where to find your tax slips deposited in your online account.
How do I use a RL-10 on my tax returns?
To claim labour-sponsored funds tax credits[1]:
Transfer the amount from box A to ...
- line 41300 (Canada)
Transfer the amount from Box B to ...
- line 424 (Quebec)
- line 41400 (Canada)
To claim the RRSP deduction:
Transfer the amount in box RRSP contribution to ...
- line 214 (Quebec)
- line 20800 (Canada)
To designate an amount as an HBP or LLP repayment:
Transfer the amount from the RRSP payment box to ...
- line 212 (Quebec)
- Schedule 7 (Canada)
A useful tip
The most popular tax software programs usually include a function specifically for Labour Sponsored Funds. Look for this function rather than a standard RRSP contribution.
A checklist to keep
We've prepared a checklist to help you complete your tax returns.