Guide to Slip 15 – Amounts Allocated to Members of a Partnership

About this content

This content is a simplified rewording of the official Revenu Québec publication: RL-15.G(2025-10).pdf, prepared to help citizens and entrepreneurs better understand their tax obligations. It does not constitute legal or tax advice. Refer to the official document for any decision.

Who this document is for

This guide is intended for partnerships, as well as agents or representatives who hold interests in a partnership on behalf of investors, when they must prepare Slip 15s for the members of that partnership, also called partners. It concerns in particular:

• partnerships that must allocate to their members income, losses, deductions, tax credits or other tax amounts;
• limited partnerships;
• partnerships that are tax shelters;
• partnerships having individual members, corporations, trusts or other partnerships;
• partnerships having income from Canadian or foreign sources;
• partnerships having amounts related to resources, flow-through shares, tax credits, cryptoassets or eligible property;
• persons responsible for preparing, amending, cancelling, transmitting or issuing Slip 15s. The guide applies to fiscal years ending in 2025.

Context and objective

Slip 15 is used to transmit to the members of a partnership the tax information allocated to them for a fiscal year. This information allows members to correctly complete their income tax return. The guide explains:

• when a Slip 15 must be prepared;
• for whom it must be prepared;
• how to transmit it to Revenu Québec and to the members;
• how to correct, cancel or complete a slip;
• how to allocate amounts among partners;
• how to complete each box on Slip 15;
• which supplementary information codes to use;
• which special rules apply depending on the type of partner or amount. The legislative references mentioned in the document refer in particular to the Tax Administration Act, the Taxation Act, the Taxation Regulation and the Act respecting the legal framework for information technology. The document also indicates that neutral or gender-inclusive wording is preferred where the context allows it.

Complete and detailed information

Main changes for 2025

Abolition of certain additional deductions related to Quebec resources

The 2025-2026 budget provides for the end of two additional deductions:

• the additional deduction for certain exploration expenses incurred in Québec;
• the additional deduction for certain surface mineral exploration expenses incurred in Québec. When these expenses are incurred under the flow-through share regime, these deductions can no longer be claimed for flow-through shares issued after March 25, 2025, except in the following situations:
• the shares are issued before January 1, 2026 following an application for a preliminary prospectus receipt filed no later than March 25, 2025;
• the shares are issued following an announcement made no later than March 25, 2025, and the offering memorandum form was filed with the Autorité des marchés financiers no later than May 31, 2025.

These additional deductions are also not available for such exploration expenses incurred directly by a partnership after March 25, 2025, whether the partnership acts as an operator or as a member of an operating partnership.

Abolition of the capital gains deduction on resource properties

The capital gains deduction on resource properties, which could generally be claimed by an individual other than a trust when the partnership of which the individual is a member disposed of certain resource properties, is abolished for properties disposed of after March 25, 2025. It may, however, still be claimed for a resource property that falls under one of the following cases:

• a flow-through share issued before March 26, 2025 or an interest in a partnership acquired before that date;
• a flow-through share issued or an interest acquired before January 1, 2026, if the issuance or acquisition results from an application for a preliminary prospectus receipt filed no later than March 25, 2025;
• a flow-through share issued or an interest acquired following a public announcement made no later than March 25, 2025, if the offering memorandum form was filed with the Autorité des marchés financiers no later than May 31, 2025. When the property is an interest in a partnership that holds a covered flow-through share, that share must also meet the applicable conditions.

Functional currency code

When a corporation that is a member of a partnership has chosen to file its income tax return in a functional currency, Slip 15 must indicate code 202 in a supplementary information box, followed by the code of the currency used. The permitted currencies are:

Currency	Code
U.S. dollar	USD
Euro	EUR
Pound sterling	GBP
Australian dollar	AUD
Yen	JPY

New codes relating to cryptoassets

If a partnership earns, during a fiscal year, business income or losses, capital gains or losses, or property income or losses from cryptoassets, these amounts must be allocated to its members. The new supplementary information codes are:

Code	Information to enter
1-12	Net business income or net business loss from cryptoassets
12-17	Capital gains or losses from cryptoassets
14-7	Gross business income from cryptoassets
No separate code is provided for property income from cryptoassets. These amounts must be added to other property income and entered in the relevant boxes.

Changes to expense codes for the resource tax credit

The 2025-2026 budget changes the codes to be entered in box 73 of Slip 15 for certain expenses that may qualify for the resource tax credit. Codes whose description is changed:

Code	Description
A.1 or B.1	Mining exploration expenses in the Middle North and Far North incurred before March 26, 2025
A.2 or B.2	Mining exploration expenses elsewhere in Québec incurred before March 26, 2025
C	Natural resource expenses incurred before March 26, 2025
D	Renewable energy and energy conservation expenses incurred before March 26, 2025
New codes:
Code	Description
---	---
A.3 or B.3	Mining exploration and development expenses incurred after March 25, 2025 – Critical and strategic minerals
A.4 or B.4	Mining exploration and development expenses incurred after March 25, 2025 – Other mineral resources
C.1	Natural resource expenses incurred after March 25, 2025
D.1	Renewable energy and energy conservation expenses incurred after March 25, 2025

Trust account number

When a member of a partnership is a trust, its account number must now be provided. This number appears on federal form T3RET.

Function of Slip 15

Slip 15 allows a partnership, or an agent or representative holding interests on behalf of investors, to communicate to each member the tax amounts allocated to them. These amounts may include in particular:

• income;
• losses;
• capital gains or losses;
• deductions;
• resource-related expenses;
• assistance amounts;
• tax credits;
• information related to a tax shelter;
• information on flow-through shares;
• information needed to calculate certain credits or taxes. A separate Slip 15 must be prepared for each member of the partnership. Each slip must contain all required information. Negative amounts must be preceded by a minus sign –. The version of Slip 15 used must correspond to the version of the Partnership Information Return (TP-600) applicable to the fiscal year concerned. The TP-600.G and RL-15.G guides must also correspond to the relevant year.

Preparing Slip 15

Permitted preparation methods

The information must be provided using the prescribed Slip 15. The slip may be prepared using:

• software authorized by Revenu Québec and purchased by the preparer;
• software designed by the preparer, if it meets Revenu Québec requirements;
• the fillable PDF form;
• the paper form provided by Revenu Québec.

No financial compensation is granted to persons who use their own slips.

Filing deadline

Within the same deadline as that provided for filing the Partnership Information Return (TP-600), you must:

• transmit the Slip 15s to Revenu Québec;
• give the Slip 15s to the members of the partnership;
• attach to the slips given to the members the document Instructions for Members of the Partnership (RL-15.EX).

Transmission to Revenu Québec

Since January 1, 2024, Internet transmission in an XML file using authorized software is mandatory if more than 5 Slip 15s are prepared. If fewer than 6 Slip 15s are prepared, they may be transmitted:

• by Internet in an XML file using authorized software;
• by mail on paper. For paper slips, only copy 1 must be sent to Revenu Québec. If the slips are transmitted by Internet, copy 1 of the paper slips must not be sent. The slips must, however, be kept on paper or technological media, as applicable. The information return, which serves as the summary of the Slip 15s, must be transmitted on paper by mail.

Transmission to members

If the slips are prepared on paper, copy 2 must be given to members in person, by mail or by another means. If the slips are transmitted electronically, the member must have given prior written consent. This consent may be transmitted electronically, by mail or otherwise. The consent must clearly state that:

• the member agrees to receive Slip 15 electronically;
• this consent remains valid until the member cancels it. The member must also be informed of the ways to revoke their consent. When transmitting electronically, you must in particular:
• protect personal information;
• be able to verify the identity of the person giving consent;
• transmit the slips in a format that prevents modification of the data. The document RL-15.EX must accompany Slip 15, whether transmission is by paper or electronically.

Amendment, cancellation and additional slips

Amended slip

An amended slip is used to replace a slip already transmitted that contains one or more errors, for example an incorrect amount. An amended slip must not be prepared when the error concerns:

• the member’s address: in this case, the original slip must only be retransmitted to the member;
• the member’s identity: in this case, the slip must be cancelled and a new slip must be prepared.

Cancelled slip

A cancelled slip is used to delete a slip transmitted in error or a slip containing an identity error, for example in:

• the social insurance number;
• the first name;
• the surname.

Slip transmitted by Internet

Amended or cancelled slips may be transmitted by Internet. The applicable instructions are those in guide ED-425.

Slip transmitted on paper

To amend a paper slip already transmitted:

• prepare a corrected slip;
• indicate that it is amended;
• enter the letter A in the “Slip code” box;
• enter the corrected amounts;
• copy the unchanged amounts from the original slip;
• enter, in the “No. of last slip transmitted” box, the number of the last slip to be corrected. To cancel a paper slip:
• make a photocopy of the original slip;
• indicate that it is cancelled;
• enter the letter D in the “Slip code” box;
• make sure the original slip number is legible. Whenever a Slip 15 is amended or cancelled, an amended information return must also be prepared.

Additional slip — insufficient blank boxes

If the boxes reserved for supplementary information are not sufficient for a member, an additional slip must be prepared. This additional slip must contain only:

• a sequential number different from that of the first slip;
• the identity information of the partnership and the member;
• the year concerned;
• the slip code;
• the data in boxes 39 to 42 of the first slip;
• the supplementary information that could not be entered on the first slip. The other data from the first slip must not be copied.

Additional slip — other cases

An additional slip may also be required for other reasons, for example when there are several transactions relating to property eligible for box 10. In that case, only the relevant boxes must be completed, in addition to the minimum information required for an additional slip.

Penalties

Each member of a partnership must ensure that the partnership files its information return and its Slip 15s for each fiscal year. Penalties may apply in particular if:

• Slip 15 is filed late;
• more than 5 Slip 15s are prepared and are not transmitted by Internet.

Allocation of amounts among partners

In general, income, gains, losses, deductions and other amounts are allocated according to the partnership agreement. However, certain amounts must be allocated according to the participation percentage, also called the agreed proportion. This percentage corresponds to each partner’s share of the partnership’s income or losses for the fiscal year. If both the partnership’s income and loss are zero for the fiscal year, the percentage must be determined as if the partnership had had income of $1 million. This rule applies in particular to:

• total income from forestry operations used in calculating business income, box 1;
• cooperative patronage dividends received in preferred shares, box 9;
• amounts included in the paid-up capital of member corporations, boxes 24a to 24c;
• tax credits, boxes 70 to 76. The participation percentage must be entered:
• in box 36;
• in box 74 when a tax credit must be allocated. In the case of an intermediary partnership, the percentage in box 74 may be lower than that in box 36. Other adjustments may be required depending on:
• the status of the designated partner;
• limited partner status;
• the type of income or loss;
• the tax credit concerned;
• the rules specific to certain amounts.

Geographic allocation of income

If income or losses arise from activities carried on in several provinces, territories or countries, a table must allocate the amounts according to the establishments of the partnership to which they are attributed. This table must be:

• attached to the TP-600 return;
• given to the members with their Slip 15. The table may not be sufficient to correctly allocate a member’s income if that member’s establishments are located in provinces, territories or countries different from those of the partnership. For foreign income:
• a single slip may contain income from two foreign countries;
• if income comes from three foreign countries or more, a separate slip must be prepared for each additional group of two countries.

Special cases and exceptions

Limited partner

Special rules apply when a partnership incurs a loss and one partner is a limited partner. A limited partner’s share of losses arising from:

• a business other than a farming business;
• property; is deductible only up to the limit amount. This limit amount corresponds to the partner’s at-risk amount at the end of the fiscal year, or, where applicable, the excess of that amount over:
• the partner’s share of the federal investment tax credit;
• the partner’s share of the federal carbon capture, utilization and storage (CCUS) tax credit;
• the partner’s share of the federal clean technology investment tax credit;
• the partner’s share of the federal clean hydrogen tax credit;
• the partner’s share of the federal clean technology manufacturing investment tax credit (CTM);
• the partner’s share of the partnership’s farming losses for the fiscal year;
• the partner’s share of Canadian and foreign resource expenses incurred by the partnership during the fiscal year, boxes 28 to 31. This rule must be taken into account in determining the losses to be entered in boxes 1 and 3. The total of the losses entered must not exceed the limit amount. If the limit amount is zero, the box must be left blank. If eligible scientific research and experimental development expenses increased or created a business loss, the partnership must not allocate to the member their share of that increase or creation of loss. The portion of the losses that exceeds the limit amount becomes a limited partnership loss. It must be entered in box 27 and may be carried forward to a later year. Farming losses are not limited by the at-risk amount and must be included in box 1.

Example relating to the at-risk amount

If a partner’s share of the business loss is $10,000 and their at-risk amount is $6,000, the amount entered in box 1 is limited to $6,000, subject to other restrictions. The excess of $4,000 constitutes a limited partnership loss and must be entered in box 27.

At-risk amount and ACB

The at-risk amount is defined in guide TP-600.G. The partnership must provide the information needed to calculate it in schedule A of the return. If a limited partner acquired their interest from a third party rather than directly from the partnership, the adjusted cost base of the interest must be calculated as if its cost were the lesser of the following amounts:

• its otherwise determined cost;
• the greater of the adjusted cost base of the interest for the transferor immediately before the transaction and zero. When the partnership incurred a business loss or incurred resource expenses or issuance expenses related to an investment in flow-through shares, the at-risk amount must be calculated before the amounts in boxes:
• 1;
• 3;
• 27;
• 28 to 31;
• 60, 61 and 65. Resource expenses include:
• Canadian exploration expenses;
• Canadian development expenses;
• expenses in respect of Canadian oil and gas property;
• foreign resource expenses.

Professional dues paid for members

If the partnership pays professional dues for its members during the fiscal year, it may not deduct them from its own income. The members are deemed to have paid their share themselves during the taxation year in which the partnership’s fiscal year ends. Consequences depending on the type of member:

• corporation: the share is deductible in the calculation of income;
• individual: the share gives entitlement to a non-refundable tax credit;
• partnership: the members of that partnership may qualify for a deduction or a credit depending on whether they are corporations or individuals. Code 201 must be entered in a supplementary information box, followed by the amount allocated to the member.

Functional currency

The amounts on Slip 15 must normally be shown in Canadian dollars. To convert amounts in foreign currencies, you must use:

• the exchange rate applicable at the time of the transaction;
• or an average rate for the period during which the transaction took place. If a member corporation has chosen, under federal rules, to file its return in a functional currency, Slip 15 must be transmitted to it in that currency.

The possible currencies are:

Currency	Code
U.S. dollar	USD
Euro	EUR
Pound sterling	GBP
Australian dollar	AUD
Yen	JPY
Code 202 must be entered in a supplementary information box, followed by the currency code.

Split income

A partner may be taxed at the highest marginal rate on their share of split income from the partnership if:

• they are an individual other than a trust;
• they reside in Canada on December 31 of the year in which the partnership’s fiscal year ends;
• if they are a minor on that date, their father or mother resided in Canada at some time during that year. The partnership must use the supplementary information codes provided to identify the amounts that constitute split income.

Split income — general rule

Unless it is an excluded amount, a partner’s share in income from a partnership is generally split income if:

• the income comes directly or indirectly from a business related to the partner;
• the income comes directly or indirectly from the rental of property by a partnership and a person related to the partner actively participates in the rental activities or holds a direct or indirect interest in the partnership;
• the income comes directly or indirectly from the rental of property by a trust of which the partnership is a beneficiary, and a person related to the partner regularly and actively participates in the trust’s rental activities.

Excluded amounts by age

Type of income	17 or under	18 to 24	25 or over
Income coming directly or indirectly from an excluded business	No	Yes	Yes
Taxable capital gains from the disposition of eligible farming or fishing property	Yes	Yes	Yes
Income from excluded shares or taxable capital gain from such shares	No	No	Yes
Income or taxable capital gain from a debt traded or quoted on a public market	Yes	Yes	Yes
Income or taxable capital gain from a debt of the Government of Canada, a province or a municipality	Yes	Yes	Yes
Income or taxable capital gain from a deposit with a Canadian branch of a financial institution or a bank	Yes	Yes	Yes
Income or taxable capital gain from a deposit with a credit union	Yes	Yes	Yes
Income from a related business constituting an excluded return	No	Yes	No
Income from a related business constituting a reasonable amount according to certain factors, including the partner’s contributions	No	Yes	Yes
Income from property inherited from the father or mother	Yes	Yes	No
Income from property inherited from another person if certain conditions related to a severe and prolonged impairment or full-time post-secondary studies are met	Yes	Yes	No

For partners aged 18 to 24, the contributions generally considered for the reasonable amount are property contributions meeting certain conditions. The property generally must not come from a loan, debt or a direct or indirect transfer from a related person, except in the case of a transfer on death. For partners aged 25 or over, the contributions generally considered include property and work provided by the partner and the persons related to them.

Excluded shares

Excluded shares are generally shares held by a partner in a corporation that is not a professional corporation, when less than 90% of the corporation’s business income comes from the provision of services and the following conditions are met:

• the shares give the partner at least 10% of the voting rights;
• their fair market value represents at least 10% of the fair market value of the share capital;
• all or substantially all of the corporation’s income does not come directly or indirectly from one or more businesses related to the partner, except the corporation’s own businesses.

Related business

A business related to a partner may include a business carried on by:

• an individual related to the partner, if that individual resides in Canada at some time during the year in which the fiscal year ends;
• a partnership, if that related individual actively participates in the activities generating business income or holds a direct or indirect interest in that partnership;
• a corporation in which that related individual is a shareholder, if the fair market value of the shares they hold represents at least 10% of the fair market value of the share capital. Unless it is an excluded amount, split income may include income from a related business arising from:
• the partnership itself;
• a partnership of which it is a member;
• a business carried on by a related individual;
• a corporation in which the partnership is a shareholder.

Excluded business

A business is excluded for a partner if that partner actively participated in it:

• for at least 5 taxation years preceding the year concerned, when the income is a taxable capital gain resulting from the disposition, after 2017, of a share of a non-public corporation, an interest in a partnership or a debt;
• during the year concerned or for at least 5 prior taxation years, in other cases. A partner is deemed to actively participate in a business if they work in it on average at least 20 hours per week during the year, or during the part of the year in which the business is carried on.

Excluded return

The excluded return corresponds to the following result:

fair market value of the contribution of property to the related business × the highest of the prescribed interest rates applicable to the quarters ending in the year. If property is returned directly or indirectly to the partner, its fair market value is calculated pro rata according to the number of days in the year during which it was not returned.

Boxes on Slip 15

General boxes

Box	Information to enter
Year	Year in which the fiscal year ended
Slip code	R for original, A for amended, D for cancelled
Fiscal year-end date	End date of the fiscal year concerned
Tax shelter identification number	Number indicated in box 01c of the TP-600 return, if applicable

Before completing boxes 1 to 45, box 40 must show the code corresponding to the type of partner, because several rules depend on the member’s tax status.

Box 1 — Net business income or net business loss

Enter the partner’s share of net business income or net business loss from line 45 of the return. If eligible R&D expenses give rise to an investment tax credit for a partner other than a designated partner, the credit in box 21b must be included in box 1. Supplementary codes:

Code	Information
1-1	Net business income or net business loss other than farming, fishing, profession or commission work
1-2	Net farming income or loss
1-3	Net fishing income or loss
1-4	Net professional income or loss
1-5	Net commission income or loss
1-12	Net business income or net business loss from cryptoassets

Code 1-6 — Income subject to adjustment

Enter 1-6 and the mention “Adjustment” if:

• the partner is an individual and an election causes the fiscal year not to coincide with the calendar year;
• the partner is a corporation with a significant interest and its taxation year does not coincide with the end of the fiscal year;
• the partner is a corporation and the partnership has already made an election for single-tier or multi-tier year alignment.

The partner must then use, as applicable, form TP-80.1 or CO-17.B. A significant interest exists when a corporation holds, alone or with related or affiliated persons or partnerships, an interest of more than 10% in the partnership’s income, loss or net assets if it were to cease to exist.

Code 1-7 — Income situated in a reserve or a premises

If the partner is an Indian within the meaning of the Indian Act, enter 1-7 and the amount of net business income or net business loss situated in a reserve or a premises. The term Indian is used because of its legal meaning.

Code 1-8 — Farming losses

If the farming net income on line 43 includes farming losses, enter 1-8 and the partner’s share. The rules on restricted farming losses apply to each partner and not to the partnership.

Code 1-10 — Business income after withdrawal of a partner

If the partnership primarily operates a business in Canada and an agreement provides that part of the business income is allocated to a former partner, their spouse, their particular legatee or their estate, that person or estate is deemed to be a member. A slip must be prepared in their name with code 1-10 and the allocated amount. This income does not give rise to any contribution to the Québec Pension Plan.

Code 1-11 — Split income

Use 1-11 if:

• the partner is an individual other than a trust;
• they reside in Canada on December 31 of the year in which the fiscal year ends;
• if they are a minor, their father or mother resided in Canada at some time during that year;
• part or all of box 1 constitutes split income.

Box 2 — Net business income or net business loss from a foreign source

Enter the partner’s share of the amount on line 72a. Supplementary codes:

Code	Information
2-1	Net business income or net business loss from a foreign source for one country
2-2	Country code for amount 2-1
2-3	Net business income or net business loss from a foreign source for a second country
2-4	Country code for amount 2-3
2-5	Portion of box 2 constituting split income
A slip may contain two countries. For three countries or more, prepare additional slips in groups of two countries.

Box 3 — Net rental income or net rental loss

Enter the partner’s share of the net rental income or net rental loss from line 46. Supplementary codes:

Code	Information
3-1	Financing expenses and interest deducted in calculating rental income or loss
3-2	Rental income or loss situated in a reserve or a premises for an Indian partner
3-3	Share of a designated trust in the rental income or loss of a designated building
3-4	Portion of box 3 constituting split income
A designated trust is a non-testamentary trust that did not reside in Canada during the year and is not tax-exempt.
A designated building is a building located in Québec, including a right or option, used mainly to earn rent.

Box 4 — Net rental income or net rental loss from a foreign source

Enter the partner’s share of foreign-source rental income or loss, including amounts from cryptoassets, included in box 3. Supplementary codes:

Code	Information
4-1	Foreign-source rental income or loss for one country
4-2	Country code for 4-1
4-3	Foreign-source rental income or loss for a second country
4-4	Country code for 4-3
4-5	Portion of box 4 constituting split income

Box 5 — Depreciation

Enter the partner’s share of depreciation related to the income or losses in boxes 1 and 3, as well as, where applicable, depreciation related to rental property and certain films from line 50. Supplementary codes:

Code	Information
5-1	Depreciation related to rental property
5-2	Depreciation related to certain films
These amounts may be needed for the alternative minimum tax.

Boxes 6a and 6b — Dividends

Enter:

• in box 6a: the partner’s share of the actual amount of eligible dividends;
• in box 6b: the partner’s share of the actual amount of ordinary dividends. These dividends include:
• dividends received or deemed received from taxable Canadian corporations, lines 51a and 51b;
• certain taxable off-portfolio gains deemed to be eligible dividends in the case of a SIFT partnership. A SIFT partnership is a partnership that, for a given year, is not a excluded subsidiary and that, at some time during the year:
• resides in Canada;
• has investments listed or traded on a stock exchange or other public market;
• holds one or more off-portfolio properties. For an individual other than a trust who is a registered charity, these dividends entitle the individual to the dividend tax credit. Supplementary codes: | Code | Information | |---|---| | 6-1 | Taxable amount of eligible and ordinary dividends | | 6-2 | Taxable amount of eligible and ordinary dividends situated in a reserve or a premises | | 6-3 | Taxable amount of eligible and ordinary dividends constituting split income | Calculations:
• taxable eligible dividends = box 6a × 1.38;
• taxable ordinary dividends = box 6b × 1.15. If only part of the dividends constitutes split income, also use code 6-1 for the non-split portion.

Box 7 — Interest and other Canadian-source investment income

Enter the partner’s share of other Canadian-source investment income, including that from cryptoassets, received or deemed received by the partnership. These amounts are shown on line 52. Supplementary codes:

Code	Information
7-1	Taxable dividends received in a dividend transfer mechanism
7-2	Portion of box 7 constituting split income

Box 8 — Foreign-source investment income

Enter the partner’s share of dividends, interest and other foreign-source investment income, including income from cryptoassets, shown on line 53. Supplementary codes:

Code	Information
8-1	Foreign-source investment income for one country
8-2	Country code for 8-1
8-3	Foreign-source investment income for a second country
8-4	Country code for 8-3
8-5	Portion of box 8 constituting split income

Box 9 — Cooperative patronage dividend

Enter the partner’s share of patronage dividends received during the fiscal year, line 56. Supplementary codes:

Code	Information
9-1	Deduction relating to a patronage dividend received in preferred shares of an eligible cooperative
9-2	Inclusion in income upon redemption of previously deducted preferred shares
Code 9-2 does not apply if the redemption takes place in certain events such as a merger, winding-up, conversion or reorganization of share capital, when new shares are received as consideration.

Box 10 — Capital gains or losses used in calculating the deduction

Enter the partner’s share of capital gains or losses from the disposition of eligible property, even if they are resource-related. Eligible property:

• eligible farming or fishing property;
• qualifying small business shares. The amount is used in calculating an individual’s capital gains deduction. The amounts in boxes 10 and 12 must correspond respectively to lines 60 and 62 of the return. They represent actual gains or losses, not taxable or eligible amounts. The loss in respect of an investment in a business must be entered in box 13, not in box 10. Supplementary codes: | Code | Information | |---|---| | 10-1 | Split income — capital gain deemed ordinary dividend | | 10-2 | Date of disposition, format YYYYMMDD | | 10-3 | Gain or loss used in calculating the deduction | | 10-4 | Code for the type of property disposed of | Types of property: | Type | Code | Property | |---|---:|---| | Property other than resource property | 1 | Eligible farming or fishing property | | Property other than resource property | 2 | Shares covered by an eligible business transfer | | Property other than resource property | 3 | Small business shares | | Resource property | 4 | Eligible farming or fishing property | | Resource property | 6 | Small business shares | One or more additional slips are required if there is more than one transaction.

Box 11 — Provisions related to disposed capital assets

Enter the partner’s share of provisions deducted for disposed capital assets, lines 61 or 63. Supplementary codes:

Code	Information
11-1	Provision related to eligible farming or fishing property
11-3	Provision related to qualifying small business shares
11-4	Provision related to other property
11-8	Provision related to shares covered by an eligible business transfer
Additional slips are recommended if there are several transactions generating provisions.

Box 12 — Capital gains or losses not used in calculating the deduction

Enter the partner’s share of capital gains or losses on property other than eligible property. Supplementary codes:

Code	Information
12-1	Capital gains or losses on non-resource property
12-2	Capital gains or losses on resource property
12-3	Foreign-source gains or losses for one country
12-4	Country code for 12-3
12-5	Foreign-source gains or losses for a second country
12-6	Country code for 12-5
12-17	Capital gains or losses from cryptoassets
12-7	Split income — capital gain deemed ordinary dividend
12-8	Split income — capital gain deemed foreign-source dividend
12-9	Split income — other capital gain

Codes 12-7 and 12-8 apply in particular if the partner is a minor, resides in Canada on December 31, their father or mother resided in Canada during the year, and the gain is deemed to be a dividend because of the disposition of non-listed shares to a non-arm’s-length person.

Box 13 — Loss in respect of an investment in a business

Enter the partner’s share of this loss, line 70. Supplementary codes:

Code	Information
13-1	Name of the corporation that issued the shares or debt
13-2	Number of shares
13-3	Class of shares or debt
13-4	Date of disposition
13-5	Date of acquisition
13-6	Proceeds of disposition
13-7	Adjusted cost base
13-8	Disposition expenses
13-9	Amount of loss
An additional slip is required for each additional transaction.

Box 14 — Gross income of the partnership

Enter the total of lines 37 and 51a to 53. This amount corresponds to gross income from all sources for the fiscal year. Supplementary codes if there are several sources:

Code	Information
14-1	Gross business income, other than farming, fishing, profession, commission work and rental income constituting property income
14-2	Gross farming income
14-3	Gross fishing income
14-4	Gross professional income
14-5	Gross commission income
14-6	Gross rental income constituting property income
14-7	Gross business income from cryptoassets

Box 15a — Financing expenses and interest expenses

Enter the partner’s share of financing expenses and interest from line 54. Supplementary codes:

Code	Information
15a-1	Canadian-source financing expenses and interest
15a-2	Foreign-source financing expenses and interest
15a-3	Financing expenses and interest related to the rental of certain films
15a-4	Financing expenses and interest related to resources
15a-5	Bad debts
Bad debts are excluded from the calculation of the investment expense adjustment.
If the partnership ceases to exist during the fiscal year, enter the amount the partner may deduct as financing expenses for the taxation year in which the fiscal year ends. Deductible amounts in later years must also be communicated, where applicable.

Box 15b — Compensatory payments in a dividend transfer mechanism

Enter the partner’s share of the compensatory payments from line 55.

Box 16 — Québec tax withheld at source

Enter the partner’s share of Québec tax withheld on amounts paid or credited to the partnership during the fiscal year, for example on patronage dividends. The partnership must not withhold tax on:

• a partner’s share of income;
• withdrawals by the partner;
• payments treated as salary or wages. Partners may therefore have to pay instalments on their share of income.

Box 17 — Foreign tax paid on income not from a business

Enter in Canadian dollars the partner’s share of foreign tax paid or withheld at source on income not from a business, line 71. This may include:

• net rental income, box 4;
• investment income, box 8;
• capital gains included in box 12. Supplementary codes: | Code | Information | |---|---| | 17-1 | Tax paid to a foreign country on income not from a business | | 17-2 | Country code for 17-1 | | 17-3 | Tax paid to a second foreign country | | 17-4 | Country code for 17-3 | | 17-5 | Foreign tax related to split income not from a business |

Box 18 — Foreign tax paid on business income

Enter in Canadian dollars the partner’s share of foreign tax paid on business income, line 72. Supplementary codes:

Code	Information
18-1	Tax paid to a foreign country on business income
18-2	Country code for 18-1
18-3	Tax paid to a second foreign country on business income
18-4	Country code for 18-3
18-5	Foreign tax related to split income from a business

Box 19 — Charitable donations

Enter the partner’s share of the eligible amount of charitable donations from line 73, taking into account the applicable enhancement for certain property.

Code 19-3 — Increase in the 75% limit

If the partnership must report a capital gain or recapture of depreciation in respect of property donated to charity, enter 19-3 and the partner’s share of the increase in the property’s value. For a corporate partner, this amount may increase the usual charitable donation limit, normally equal to 75% of net income.

For all partners, the increase amount is calculated as follows:

(A + B) × 25% where:

• A is the lesser of:
• the recapture of depreciation included in the partnership’s income for the class of the donated property;
• the capital cost of the property, or its fair market value if lower;
• B is the amount of taxable capital gains on donated property during the fiscal year.

Box 20 — Other donations

Enter the partner’s share of the amount on line 74.

Boxes 21a and 21b — Federal investment tax credit

Enter:

• in box 21a: the partner’s share of the federal investment tax credit related to depreciable property;
• in box 21b: the partner’s share of the federal investment tax credit related to other property.

Boxes 24a to 24c — Paid-up capital

After completing schedule D of the return, enter:

Box	Amount from schedule D
24a	Column C, Part 4
24b	Column D, Part 4
24c	Column E, Part 4

Box 26 — At-risk amount

Enter the partner’s at-risk amount if they are a limited partner. This amount may limit a deductible loss or resource-related tax relief.

Box 27 — Limited partnership loss

Enter the total:

• of the excess of the partner’s share of business losses other than farming or property over the losses entered in boxes 1 and 3;
• of the excess of their share of Québec resource issuance expenses over the amount entered in box 65.

Boxes 28 to 31 — Resource expenses

Enter:

Box	Expenses
28	Canadian exploration expenses
29	Canadian development expenses
30	Expenses in respect of Canadian oil and gas property
31	Foreign resource expenses
Certain expenses must be identified by supplementary codes:
Code	Information
---	---
28-1	Exploration expenses in Québec not eligible for the additional 10% deduction, except those under code 28-2
28-2	Renewable energy and energy conservation expenses incurred in Québec
29-1	Development expenses in Québec
29-2	Accelerated Canadian development expenses
30-1	Accelerated expenses in respect of Canadian oil and gas property
Accelerated Canadian development expenses are generally those incurred after November 20, 2018 and before 2028, except certain expenses deemed incurred on December 31, 2027 and certain costs acquired from a non-arm’s-length person or partnership. They also include certain expenses renounced to the partnership in respect of flow-through shares after November 20, 2018.
Accelerated expenses related to Canadian oil and gas property are generally those incurred after November 20, 2018 and before 2028, except certain costs acquired from a non-arm’s-length relationship.
For a limited partner, resource expenses are limited according to their at-risk amount. If the partner’s share exceeds the limit amount, the excess reduces the expenses in the following order:

1. box 30;
2. box 29;
3. box 28;
4. box 31.

Disallowed amounts are added to the same category of expenses in the following fiscal year. If box 28 is reduced, boxes 32 and 33 must be reduced proportionally.

Box 32 — Exploration expenses in Québec

Enter the share of the individual partner in the exploration expenses incurred in Québec included in box 28. The partner may include 10% of the amount in box 32 in their account relating to certain exploration expenses in Québec and deduct up to 100% of the positive balance in the account at the end of their taxation year. Expenses incurred after March 25, 2025 must not be entered in box 32, as they no longer qualify for the additional deductions.

Box 33 — Surface mineral exploration expenses in Québec

Enter the share of the individual partner in the surface mineral exploration expenses incurred in Québec, included in box 32. The partner may include 10% of the amount in box 33 in their account relating to certain surface mineral exploration expenses in Québec and deduct up to 100% of the positive balance in the account. This deduction may be added to that of box 32. Expenses incurred after March 25, 2025 must not be entered in box 33.

Box 34 — Exploration expenses in Northern Québec

These expenses are included in box 32. Only a corporate partner may create an account relating to these expenses. It may include 25% of the amount in box 34 in the account and deduct up to 100% of the positive balance of the account.

Box 35 — Assistance amounts for the expenses in boxes 28 to 30 and 32 to 34

Enter the partner’s share of the assistance amounts related to the Canadian resource expenses in boxes 28 to 30 and 32 to 34. Assistance amounts related to boxes 32 to 34 must not be included in those of box 28. However, assistance amounts related to boxes 33 or 34 must be included in those of box 32, since the expenses in boxes 33 and 34 are included in box 32.

Box 36 — Participation percentage

Enter the partner’s participation percentage in income or losses, with decimals where applicable.

Box 37 — Number of units held

If the interest constitutes a tax shelter, enter the total number of units held, including the first two decimal places.

Box 38 — Activity code

Code	Main activity
22	Business other than those covered by another code
23	Farming
24	Fishing
25	Profession
26	Commission work
136	Rental generating property income
154	Other

Box 39 — Partnership code

Code	Type
0	Partnership other than a limited partnership
1	Limited partnership
A limited partnership includes at least one general partner and one limited partner. The general partner has unlimited liability and manages the business of the limited partnership.

Box 40 — Partner code

Code	Tax status
0	Designated partner who is a limited partner at some time during the fiscal year
1	Other designated partner, that is, a passive partner
2	General partner
3	Spouse holding a joint interest
4	Person holding a joint interest other than between spouses
5	Corporation holding a significant interest

Box 41 — Taxpayer code

Code	Type
1	Individual other than a trust
3	Corporation
4	Trust or partnership

Box 42 — Percentage of business carried on in Québec

Enter the percentage of business carried on in Québec by the partnership. If the partnership has an establishment in Québec and another elsewhere, the percentage must be calculated using form CO-771.R.3, as if the partnership were a corporation. This percentage may be used in particular:

• for certain rules relating to the transfer of property by a member to the partnership;
• in calculating the tax payable if the partnership is a SIFT partnership. This percentage is not necessarily the percentage of business carried on in Québec by a member, especially if their establishments differ from those of the partnership. A copy of form CO-771.R.3 must be given to the members with the slip. Enter:
• 0 if the partnership has no establishment in Québec;
• 100% if all its establishments are in Québec.

Box 43 — Return of capital

If the partnership is a limited partnership, enter the payment made to the partner representing their share of income or capital.

Box 44 — Dividend tax credit

Enter the credit relating to the dividends in boxes 6a and 6b. Calculation:

• eligible dividends: box 6a × 16.1460%;
• ordinary dividends: box 6b × 3.9330%.

If code 6-3 was used for dividends constituting split income, also enter code 44-1 in a blank box to indicate the credit related to those dividends. This amount must be included in box 44.

Box 45 — Eligible portion of taxable capital gains on resource property

If capital gains on resource property are entered in box 12, calculate the eligible portion of the taxable capital gains giving entitlement to the deduction for capital gains on resource property, then enter the partner’s share. For property disposed of after March 25, 2025, the deduction no longer applies, except in the transitional cases provided for certain flow-through shares or interests acquired or issued before the dates and under the conditions specified in the 2025 changes.

Tax shelter — Boxes 50 to 55

This section is used for tax shelter units acquired during the fiscal year. Before completing it, boxes:

• 1;
• 3;
• 5;
• 15a;
• 19, where applicable must have been completed. Tax shelter business activity codes: | Code | Description | |---:|---| | 01 | Chartered and rental | | 02 | Films, videotapes and other recordings | | 03 | Franchising | | 04 | Hotels and motels | | 05 | Manufacturing | | 06 | Development and sale of immovable property | | 07 | Recreation | | 08 | Rental of immovable property | | 09 | Research and development | | 10 | Mutual fund limited partnership | | 11 | Seismic data | | 12 | Software | | 13 | Farming operations | | 14 | Mining operations | | 15 | Oil or gas, non-seismic prospecting | | 16 | Other, specify |

Boxes 50 to 52 — Units acquired

Enter:

• the number of units acquired during the fiscal year, to the first two decimal places;
• the unit cost;
• the total cost.

Box 53 — Limited-recourse amount

Enter the unpaid principal of a debt of the partner, or of a person dealing at non-arm’s length with them, reasonably related to the tax shelter and for which recourse against the partner is limited. A limited-recourse amount is the unpaid principal of a debt for which recourse is limited immediately or in the future, conditionally or unconditionally. For a partnership, it is a debt for which recourse against one of the members is limited.

Box 54 — At-risk adjustment amount

Enter any sum or value of a benefit that the partner, or a person dealing at non-arm’s length with them, is entitled to receive. An at-risk adjustment amount refers in particular to a refund, compensation, production guarantee, proceeds of disposition, loan, other indebtedness or any other form of benefit that has the effect of reducing or eliminating the impact of a loss related to an expense or property. Any amount owed to a tax shelter promoter or to a person dealing at non-arm’s length with that promoter is considered a benefit.

Box 55 — Other indirect reductions

Enter any other limited-recourse amount or at-risk adjustment amount of other taxpayers who hold a direct or indirect interest in the partnership.

Flow-through shares — Boxes 60 to 66

This section is used for exploration or development expenses that the partner is deemed to have incurred during the fiscal year under the flow-through share regime.

Boxes 60 and 61 — Canadian exploration and development expenses

Enter:

• in box 60: the partner’s share of the Canadian exploration expenses renounced by a development corporation in favour of the partnership;
• in box 61: the partner’s share of the eligible Canadian development expenses. These amounts come from Slip 11 received by the partnership. Supplementary codes: | Code | Information | |---|---| | 60-1 | Exploration expenses in Québec not eligible for the additional 10% deduction, except those under code 60-2 | | 60-2 | Renewable energy and energy conservation expenses incurred in Québec | | 61-1 | Development expenses in Québec | | 61-2 | Accelerated Canadian development expenses | For a limited partner, the excess of boxes 60 and 61 over the reduced at-risk amount first reduces box 61, then box 60. The reduced amounts may be added to the same category of expenses allocated in the following year. If box 60 is reduced, boxes 62, 63 and 64 must be reduced proportionally.

Box 62 — Exploration expenses in Québec

Enter the share of the individual partner in the exploration expenses in Québec included in box 60. The partner may include 10% of the amount in box 62 in their account relating to certain exploration expenses in Québec and deduct up to 100% of the positive balance.

Box 63 — Surface, oil or gas exploration expenses in Québec

Enter the share of the individual partner in these expenses, included in box 62. The partner may include 10% of the amount in box 63 in their account relating to these expenses and deduct up to 100% of the positive balance. This deduction may be added to that of box 62.

Box 64 — Exploration expenses in Northern Québec

These expenses are included in box 62. Only a corporate partner may create an account relating to these expenses, include 25% of the amount in box 64 in the account and deduct up to 100% of the positive balance.

Box 65 — Share or securities issuance expenses

Securities issuance expenses

Enter the partner’s share of securities issuance expenses renounced by the partnership. A renunciation may be made in favour of a partner who is:

• an individual;
• a partnership with at least one individual among its members. The amount is calculated as follows:

(A × B ÷ C) – D where:

• A = total securities issuance expenses renounced by the partnership in form CO-726.4.17.15;
• B = total exploration expenses allocated to the partner up to the day of the renunciation;
• C = total exploration expenses allocated to the members up to the day of the renunciation and those that will likely be allocated to them later;
• D = total securities issuance expenses already entered on a Slip 15 for the partner for the same issue. The partnership must also enter the partner’s share of securities issuance expenses renounced in its favour by another partnership.

Share issuance expenses

Box 65 also serves for share issuance expenses renounced by a development corporation in favour of the partnership during the fiscal year. For a given issue, the amount the partner may add to their account may not exceed the excess of their share of the consideration paid to acquire the shares over the total:

• of their share of the exploration or development expenses renounced by the development corporation for those shares;
• of the share issuance expenses already entered on slips 11 produced for the partner in respect of that issue. For a limited partner, the total that may be added to their account relating to certain share or securities issuance expenses may not exceed the excess of their at-risk amount over, in particular:
• their share of losses from a business other than farming or from property;
• the amount that will likely be their share of exploration or development expenses for future fiscal years.

Box 66 — Assistance amounts for the expenses in boxes 60 to 64

Enter the partner’s share of the assistance amounts related to each category of exploration or development expenses. Do not include in box 66(60) the assistance amounts related to:

• the expenses in box 62;
• the expenses in box 63;
• the expenses in box 64. However, include in box 66(62) the assistance amounts related to boxes 63 and 64, since those expenses are included in box 62.

Tax credit — Boxes 70 to 76

This section provides the information needed to calculate a tax credit. Except for the participation percentage in box 74, the information comes from:

• Part 2 of schedule E of the return;
• or the Slip 15 received from another partnership. One or more additional slips are required if the partner may claim more than one credit or if several schedule E forms are needed for the same credit.

Box 70 — Credit code

Code	Credit
01	Resource tax credit
02	Investment tax credit
03	Wage tax credit – R&D

A designated partner during the fiscal year is not entitled to R&D tax credits. Code 03 therefore cannot be entered for them.

Box 71 — Eligible amount

Enter the amount of the expenses or costs giving entitlement to the credit indicated in box 70. For the investment tax credit, the amount must take into account excluded expenses. A Slip 15 must also be prepared for each eligible property, with boxes 72, 75 and 76. For the wage tax credit – R&D, the amount must take into account reducible expenses.

Code 71-5 — Special tax relating to assistance, a benefit or an advantage

If members previously benefited from a tax credit and assistance, a benefit or an advantage is later received or expected by the partnership to offset an expense that gave entitlement to the credit, members may have to pay a special tax. Enter:

• in box 70: the code for the credit previously claimed;
• in a blank box: 71-5, followed by the amount of the assistance, benefit or advantage.

Box 72 — Region or MRC code

For the investment tax credit, enter the code for the region or MRC where the eligible property was used.

Code	Region or MRC
08	Abitibi-Témiscamingue
01	Bas-Saint-Laurent, eastern part
53	Bas-Saint-Laurent, western part
03	Capitale-Nationale
17	Centre-du-Québec
12	Chaudière-Appalaches
09	Côte-Nord
05	Estrie
11	Gaspésie–Îles-de-la-Madeleine
14	Lanaudière
15	Laurentides except MRC d’Antoine-Labelle
13	Laval
04	Mauricie
16	Montérégie
06	Montréal
52	MRC d’Antoine-Labelle, Laurentides
50	MRC de La Vallée-de-la-Gatineau, Outaouais
51	MRC de Pontiac, Outaouais
10	Nord-du-Québec
07	Outaouais except MRC de La Vallée-de-la-Gatineau and MRC de Pontiac
02	Saguenay–Lac-Saint-Jean
The eastern part of Bas-Saint-Laurent includes the MRCs of La Matapédia, La Matanie and La Mitis.

Box 73 — Expense code

For the resource tax credit, enter the code corresponding to the expenses included in box 71. This is the same code as that used in form CO-1029.8.36.EM.

Code	Expenses
A.1 or B.1	Mining exploration expenses in the Middle North and Far North incurred before March 26, 2025
A.2 or B.2	Mining exploration expenses elsewhere in Québec incurred before March 26, 2025
A11 or B11	Oil or gas exploration expenses in the Middle North and Far North incurred before April 1, 2023
A21 or B21	Oil or gas exploration expenses elsewhere in Québec incurred before April 1, 2023
A.3 or B.3	Mining exploration and development expenses incurred after March 25, 2025 – Critical and strategic minerals
A.4 or B.4	Mining exploration and development expenses incurred after March 25, 2025 – Other mineral resources
C	Natural resource expenses incurred before March 26, 2025
C.1	Natural resource expenses incurred after March 25, 2025
D	Renewable energy and energy conservation expenses incurred before March 26, 2025
D.1	Renewable energy and energy conservation expenses incurred after March 25, 2025

Box 74 — Participation percentage for the tax credit

Enter the percentage applicable to the calculation of the credit. It may be equal to that in box 36, but it may be lower when there is an intermediary partnership.

Example: if a corporate member holds 50% of an intermediary partnership, which holds 75% of the corporation that incurred the eligible expenses, the percentage to enter is:

50% × 75% = 37.5% There may be more than one intermediary partnership.

Boxes 75 and 76 — Dates of acquisition and use of the property

For the investment tax credit:

• box 75: acquisition date of the eligible property;
• box 76: date the property was first used.

Identity information

Member of the partnership

The name must be entered according to the type of member:

• individual: surname and first name;
• corporation: corporate name;
• partnership: partnership name;
• trust: trust name;
• estate: mention “Estate of” followed by the name of the deceased person. If the member is a corporation, a partnership or a trust, the name must be entered in the “Surname or business name” box. If there is not enough space, the “First name or business name” box may also be used. The member’s address must be entered. For a trust, enter the address of the trustee, liquidator of the estate or responsible administrator.

Social insurance number or identification number

If the member is an individual, enter their social insurance number. The individual must provide this number to anyone who must prepare a slip in their name. If they do not have one, they must apply for one from Service Canada. The person preparing the slip must make reasonable efforts to obtain the number. The absence of this number may result in a penalty for the individual and for the person required to prepare the slip.

If the member is a corporation, a partnership or a trust, enter the identification number appearing on its applicable return:

• CO-17 for a corporation;
• TP-600 for a partnership;
• TP-646 for a trust.

Trust account number

If the member is a trust, also enter its account number, which appears on federal form T3RET.

Partnership

Enter the name, address and identification number of the partnership as they appear on its information return.

Steps and procedures

General preparation steps

1. Determine whether the partnership must file a TP-600 return and Slip 15s.
2. Identify each member for whom a separate Slip 15 must be prepared.
3. Use the version of Slip 15 corresponding to the fiscal year ending in 2025.
4. Determine the tax status of each partner and enter the appropriate code in box 40.
5. Allocate income, losses, gains, expenses, credits and other amounts according to the partnership agreement or according to the participation percentage when the rules require it.
6. Allocate income by province, territory or country when there are several tax jurisdictions.
7. Complete the applicable boxes on Slip 15.
8. Add the required supplementary information in blank boxes.
9. Prepare additional slips if the blank boxes are insufficient or if several transactions, credits, countries or properties must be reported.
10. Transmit the slips to Revenu Québec within the filing deadline for the TP-600 return.
11. Give members their Slip 15 and the RL-15.EX document within the same deadline.
12. Keep the slips on paper or technological media, depending on the method used.

Mentioned documents and forms

Form or guide	Purpose
RL-15	Slip for amounts allocated to members
RL-15.EX	Instructions to give to members
TP-600	Partnership Information Return
TP-600.G	Guide to the TP-600 return
ED-425	Preparer’s Guide – Slips
TP-80.1	Adjustment of business or professional income as at December 31
CO-17.B	Adjustment of income from a partnership
TP-766.3.4	Split income tax
CO-771.R.3	Allocation of business carried on in Québec and elsewhere
TP-726.20.2	Deduction for capital gains on resource property
TP-1079.6	Statement of losses, deductions and tax credits relating to a tax shelter
CO-726.4.17.15	Summary of renunciation of certain Québec resource issuance expenses
CO-1029.8.36.EM	Resource tax credit
T3RET	Federal trust information and income return
CO-17	Corporate income return
TP-646	Trust income return

Important warnings

• A separate Slip 15 is required for each member.

• Negative amounts must be shown with the sign –.

• The version of Slip 15 must correspond to the version of the TP-600 return applicable to the fiscal year.

• Since January 1, 2024, more than 5 Slip 15s must be transmitted by Internet.

• The TP-600 return must be transmitted on paper and serves as the summary of the Slip 15s.

• Paper copy 1 must not be sent if the slips are transmitted by Internet.

• Slips given to members must always be accompanied by the RL-15.EX document.

• Written consent is required before any electronic transmission to a member.

• Slips transmitted electronically must be protected, allow the consent to be identified, and prevent modification of the information.

• An address error does not justify an amended slip transmitted to Revenu Québec; only the member must receive the corrected slip.

• An identity error requires cancellation of the slip and preparation of a new slip.

• Any amendment or cancellation also requires an amended information return.

• Penalties may apply in the event of late filing or failure to comply with the mandatory Internet transmission requirement.

• Losses of limited partners may be limited by the at-risk amount.

• Farming losses are not limited by the at-risk amount.

• Exploration expenses incurred after March 25, 2025 must not be entered in boxes 32 or 33 for the abolished additional deductions.

• The capital gains deduction on resource property is abolished for properties disposed of after March 25, 2025, subject to transitional exceptions.

• A designated partner cannot receive code 03 in box 70 for the wage tax credit – R&D.

• Assistance amounts must be classified correctly according to the boxes to which they relate.

• The account number must be provided when a member is a trust.

• Omitting the social insurance number may result in a penalty for the individual and for the person required to prepare the slip.

• A tax shelter identification number does not confirm the investor’s entitlement to the tax benefits associated with that tax shelter.

Summary

Slip 15 is used to allocate to each member of a partnership their share of income, losses, gains, expenses, tax credits and other amounts needed for their income tax return. A separate slip must be prepared for each member, with the appropriate codes according to their tax status, the type of income, foreign amounts, cryptoassets, resources, flow-through shares, tax shelters and tax credits. Since January 1, 2024, Internet transmission is mandatory when more than 5 Slip 15s are prepared. The 2025 rules abolish several additional deductions related to Québec resources for expenses incurred after March 25, 2025 and also abolish, except for transitional exceptions, the deduction for capital gains on resource property disposed of after that date. Limited partners are subject to limits based on their at-risk amount, except for farming losses. Split income must be identified using specific codes when the applicable conditions are met. Amended, cancelled or additional slips must comply with separate rules, and any amendment or cancellation also requires an amended information return. The slip must also include the required identity information, including the account number when a member is a trust.