I'm wondering if anyone in the group has knowledge/experience with a Qualified Retroactive Lump Sum Payment (QRLSP)?
It is an alternative to netting down arrears whereby the payor can claim the payment as a deduction in the year the payment is made, and the recipient can ask CRA to calculate tax owing on the payment using tax rates as if it was paid in the years it was owed.
It is an alternative to netting down arrears whereby the payor can claim the payment as a deduction in the year the payment is made, and the recipient can ask CRA to calculate tax owing on the payment using tax rates as if it was paid in the years it was owed.
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