Line 450 - Employment Insurance overpayment

If you contributed more than you had to (see line 312), enter the difference on line 450. We will refund the excess amount to you or use it to reduce your balance owing. If the difference is $1 or less, you will not receive a refund.

You may have an overpayment if your insurable earning are more than $2,000 and less than $2,037. You can calculate your overpayment using Form T2204, Employee Overpayment of 2006 Canada Pension Plan Contributions and 2006 Employment Insurance Premiums.

Note:
If you repaid some of the Employment Insurance benefits you received, do not claim the repayment on line 450. You may be able to claim a deduction on line 232 for the benefits you repaid.

Under proposed changes, if you were a resident of Quebec on December 31, 2006, and contributed more than you had to (see line 312), enter the difference on line 450. If you completed Schedule 10, enter, in dollars and cents, the amount from line 11 on line 450.

The excess amount on line 450 is reduced by the provincial parental insurance plan (PPIP) premiums that you have to pay (line 376 on Schedule 1) to the PPIP. The part of the excess amount used will be transferred directly to Revenu Québec. We will refund the unused excess amount to you or use it to reduce your balance owing. If the difference is $1 or less, you will not receive a refund.

Note:
If you repaid some of the Employment Insurance benefits you received, do not claim the repayment on line 450. You may be able to claim a deduction on line 232 for the benefits you repaid.

Completing your tax return

On line 450, enter your overpayment.

Forms and publications

• General Income Tax and Benefit Guide
• Form T2204, Employee Overpayment of 2006 Canada Pension Plan Contributions and 2006 Employment Insurance Premiums

Related topics

• Line 232 - Other deductions
• Line 312 - Employment Insurance premiums