Line 104 - Employee profit-sharing plan

An employee profit-sharing plan (EPSP) is an arrangement that allows an employer to share business profits with all or a designated group of employees. Under an EPSP, amounts are paid to a trustee to hold and invest for the benefit of the members of the plan.

If you are a beneficiary under such a plan, you will receive a T4PS slip.

You may be eligible for a foreign tax credit on foreign income earned by the plan. For more information, see Line 405.

You are allowed a dividend tax credit on line 425 for dividends that are allocated to you from taxable Canadian corporations.

Completing your tax return

Enter on line 104, the amount shown in box 35 of your T4PS slips.

Forms and publications

• General Income Tax and Benefit Package - Guide, return and schedules
• IT-280, Employees Profit Sharing Plans - Payments Computed by Reference to Profits
• IT-379, Employees Profit Sharing Plans - Allocations to Beneficiaries
• Form T3009, Election for Deemed Disposition and Reacquisition of Capital Property of a Trust Governed by an Employees Profit Sharing Plan under Subsection 144(4.2)