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March 11, 2023
Question

How to split reg.rirement income as pension income with spouse?

  • March 11, 2023
  • 1 reply
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Can you declare RRIF income as pension income and how do you plit it with a spouse?

    1 reply

    March 17, 2023

    As per the CRA:The following amounts received by the transferring spouse or common-law partner are not eligible for pension income splitting:

    • old age security payments
    • Canada Pension Plan and Quebec Pension Plan
    • any foreign source pension income that is tax-free in Canada because of a tax treaty that allows you to claim a deduction at line 25600 of your return
    • income from a United States individual retirement account (IRA)
    • amounts from a RRIF included on line 11500 of your return and transferred to an RRSP, another RRIF or an annuity

    Here is a great TurboTax article on:

    Understanding Pension Income Splitting for Seniors

     

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