Deduction for a Repayment of Amounts Overpaid to You

In your income tax return, you can deduct the amounts you were required to repay in the year because you received an overpayment, provided these amounts were included in your income for the year or a previous year.

These amounts may pertain to income such as:

  • Québec Pension Plan (QPP) and Canada Pension Plan (CPP) benefits
  • retiring allowances
  • the Old Age Security pension (the amount repaid is shown in box 20 of the T4A(OAS) slip)

For more information, see the instructions for line 246, in the guide to the income tax return (TP-1.G-V).

Note
  • If you repaid QPP and CPP benefits overpaid to you in a past year, we can, upon your request, perform a calculation to see whether it is more advantageous for you to claim a deduction for a repayment of amounts overpaid to you or to claim a tax credit for the repayment of benefits
  • If, in your federal income tax return, you have to repay all or part of the Old Age Security benefits you received, see point 3 in the instructions for line 250 in the guide to the income tax return (TP-1.G-V).

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