,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    
,subject3 ,9come ,tax ,act
  ,sup]annu,n or ,p5.n ,b5efits
,numb]3 ,,it-#dii;,r
,date3 ,janu>y #ag1 #aiib
,ref];e3 ,subp>agraph #ef7#a77a77;i7 7al
  sec;ns #eg & #bed1 subsec;ns #ef7#d7 &
  #bdh7#a7 8sup]annu,n or p5.n b5efit01
  p>agraphs #f7#a77g71 #ef7#a77x7 & 7z71
  & #aaj7#a77f71 subp>agraph
  #ef7#a77a77;iii7 (! ,9come ,tax ,act1
  & subsec;n #ghjj7#a7 (! ,9come ,tax
  ,regul,ns7

               ,applic,n
    
  ,? bullet9 c.els & replaces ,9t]pret,n
,bullet9 ,,it-#dii dat$ ,novemb] #bd1
#aihc4 ,curr5t revi.ns >e designat$
0v]tical l9es4
                                      #a
                ,summ>y              a#a
    
  ,? bullet9 4cusses sup]annu,n & p5.n
b5efits t >e 9clud$ 9 9come "u
subp>agraph #ef7#a77a77;i7 & -;ts on !
tax tr1t;t ( am.ts exclud$ f ! def9i;n (
8sup]annu,n or p5.n b5efit04 ,! tax
tr1t;t ( am.ts rcvd f an annu;y 3tract
"u a p5.n plan & am.ts rcvd f a =eign
p5.n plan >e expla9$4 ,al d1lt ) >e !
tax,n ( an orphan's b5efits1 a p5.n
paya# 6a * (a dec1s$ employee &! divi.n
(a retire;t p5.n 2t sp\ses "u ! ,canada
,p5.n ,plan1 z well z a divi.n ( p5.n
9come on m>riage br1kd[n4 ,deduc;ns t
may 2 all[$ 6a surviv+ sp\se or * (a
dec1s$ taxpay] =a transf] ( b5efits rcvd
\ (a sup]annu,n or p5.n plan 6a regi/]$
plan >e n 4cuss$ 9 ? bullet94 ,9=m,n
reg>d+ ^! transf]s is curr5tly 9clud$ 9
! ,p5.n & ,,rrsp ,tax ,guide : is
availa# at ! 4trict tax,n (fices4


                                      #b
          ,4cus.n & ,9t]pret,n       b#a
    
     ,g5]al ,-;ts 7p>agraphs #a-f7
    
#a4 ,a 8sup]annu,n or p5.n b5efit0 is
  def9$ 9 subsec;n #bdh7#a7 69clude any
  am.t rcvd \ ( or "u a sup]annu,n or
  p5.n fund or plan4 ,) c]ta9 excep;ns
  7see #c 2l71 sup]annu,n or p5.n
  b5efits >e 9clud$ 9 9come "u
  subp>agraph #ef7#a77a77;i74 ,= ?
  purpose1 sup]annu,n or p5.n b5efits
  9clude
--------------------------------------#b
  7a7 ! am.t ( any p5.n1 gu>ante$ 9come
    supple;t or sp\se's all[.e "u ! ,old
    ,age ,secur;y ,act or a simil> pay;t
    "u a law (a prov9ce 7see #b 2l71
  7b7 ! am.t ( any b5efit "u ! ,canada
    ,p5.n ,plan or ! ,qu@ebec ,p5.n
    ,plan1 &
  7c7 ! am.t ( any pay;t af #aihf "u a
    prescrib$ prov9cial p5.n plan z
    def9$ 9 subsec;n #ghjj7#a7 (! ,9come
    ,tax ,regul,ns4 7,note3 ,!        #c
              ,,it-#dii;,r           a#b
    ,saskat*ewan ,p5.n ,plan is ! only
    plan prescrib$ 6date74
  
,note3
  ,bill ;,c-#ah ta#d 9 ! ,h\se ( ,-mons
  on ,may #cj1 #aiia 9troduces clause
  #ef7#a77a77;i77,c4#a74 ,? clause1 if
  5act$ z propos$1 wd require t pay;ts
  rcvd 0a taxpay] af ,july #ac1 #aiij "u
  a =eign retire;t >range;t 2 9clud$ 9
  -put+ 9come z a sup]annu,n or p5.n
  b5efit4 ,bill ;,c-#ah w al provide1 "u
  subsec;n #bdh7#a71 a def9i;n ( 8=eign
  retire;t >range;t0 z 2+ a 8prescrib$
  plan or >range;t04 ,= ? purpose1 x is
  9t5d$ 6prescribe ,9dividual ,retire;t
  ,a3.ts 7,,ira's7 ref]r$ 6in subsec;n
  #djh7a71 7b71 & 7h7 (! ,unit$ ,/ates
  ,,9t]nal ,,rev5ue ,,code4

#b4 ,! gu>ante$ 9come supple;t & sp\se's
  all[.e pd "u ! ,old ,age ,secur;y ,act
  ref]r$ 6in #a abv1 >e social assi/.e
  pay;ts made on a m1ns1 ne$s or      #d
              ,,it-#dii;,r           b#b
  9come te/ "u a program provid$ = 0an
  ,act ( ,p>lia;t & >e 9clud$ 9 9come4
  ,h["e1 a deduc;n 9 -put+ taxa# 9come
  is availa# "u p>agraph #aaj7#a77f7 =
  s* pay;ts1 : e6ectively r5d]s !m non-
  taxa#4 ,= ? r1son1 !y >e n curr5tly
  9clud$ or deduct$ on ! 9come tax
  return4 ,h["e1 !y m/ 2 9clud$ 9 !
  -put,n ( 9come (a taxpay]1 or 8 or h]
  sp\se or dep5dant1 ": ! am.t (! 9come
  ( s* a p]son is relevant 9 ! det]m9,n
  (! am.t (a deduc;n 9 -put+ taxa# 9come
  or ! am.t (a tax cr$it4 ,"s examples (
  s* am.ts >e ! gds & s]vices tax cr$it
  & * tax cr$it or ! non-refunda# tax
  cr$its = m>ri$ or equival5t /atus1
  dep5d5t *n & o!r dep5dants &! deduc;n
  = resid5ts ( nor!rn & isolat$ >1s4
#c4 ,! excep;ns ref]r$ 6in #a abv >e3
  7a7 am.ts rcvd \ ( or "u an employee
    b5efit plan t >e 9clud$ 9 9come
--------------------------------------#c
    "u p>agraph #f7#a77g7 or t wd 2 s
    9clud$ if t p>agraph 7 r1d )\t    #e
              ,,it-#dii;,r           a#c
    a ref];e 6subp>agraph #f7#a77g77;ii7
    3c]n+ a return ( 3tribu;ns 7employee
    b5efit plans >e 4cuss$ 9 ! curr5t
    v].n ( ,,it-#ejb71
  7b7 am.ts 9clud$ 9 9come "u sec;n #eg1
    &
  7c7 am.ts rcvd \ ( or "u a retire;t
    -p5s,n >range;t t >e 9clud$ 9 9come
    "u p>agraph #ef7#a77;x7 or 7z74
#d4 ,subject 6! excep;ns not$ abv1 any
  am.t rcvd \ (a sup]annu,n or p5.n fund
  is 9come :e!r x is 9 ! nature (a s+le
  pay;t or o!rwise4 ,? is s ev5 if
  3tribu;ns 6a "picul> fund or plan 7 n
  deducti# = tax purposes4 ,fur!rmore1
  ^! pay;ts >e taxa# despite ! fact t !
  "picul> sup]annu,n or p5.n fund or
  plan has n be5 regi/]$ 0? ,de"p;t4
  ,h["e1 s9ce unregi/]$ p5.n plans may
  -e )9 ! def9i;n ( 8employee b5efit
  plan01 pay;ts \ ( s* plans >e taxa# "u
  subp>agraph #ef7#a77a77;i7 only 6!
  ext5t t !y >e n tax$ "u p>agraph
  #f7#a77g7 & d n repres5t a return   #f
              ,,it-#dii;,r           b#c
  ( 3tribu;ns 6s* a plan z describ$ 9
  subp>agraph #f7#a77g77;ii74 7,see #i
  2l47 ,": a return ( 3tribu;ns 6an
  employee b5efit plan is al a
  sup]annu,n or p5.n b5efit attributa#
  6s]vices r5d]$ 9 a p]iod "?\t : !
  employee 0 n resid5t 9 ,canada z
  describ$ 9 subp>agraph
  #f7#a77g77;iii71 s* am.t is taxa# "u
  subp>agraph #ef7#a77a77;i74

,note3
  ,bill ;,c-#ah ta#d 9 ! ,h\se ( ,-mons
  on ,may #cj1 #aiia 9troduces subsec;n
  #ef7#h74 ,if 5act$ 96law z propos$1 ?
  subsec;n w all[ 9dividuals rcvg
  ,canada ,p5.n ,plan or ,quebec ,p5.n
  ,plan 4abil;y p5.ns 6exclude f 9come 9
  ! ye> ( receipt b5efits t relate
  6prior ye>s 7except ": ! prior ye>
  b5efits >e less ?an 4#cjj7 & 6pay tax
  on ^? b5efits z if !y _h be5 rcvd 9 !
  prior ye> 6: !y relate4 ,bill ;,c-#ah
  al 9troduces sec;n #abj.c1 :        #g
              ,,it-#dii;,r           c#c
  provides =! pay;t ( tax on ? basis4 ,?
  w 2 applica# = am.ts rcvd af #aihi4

#e4 ,a p5.n pay;t : is taxa# "u
  subp>agraph #ef7#a77a77;i7 (! ,act _c1
  ei 0w or o!rwise1 2 *ang$ 96a capital
  receipt4 ,! full am.t rcvd is alw
  class$ z a sup]annu,n or p5.n b5efit &
  n z an annu;y pay;t4
--------------------------------------#d
  ,3sequ5tly1 a deduc;n is ,,n all[$ =
  :at mi<t o!rwise 2 3sid]$ 6be !
  capital ele;t ( an am.t s rcvd4 ,on !
  o!r h&1 ": an employ] has a fund or
  plan sep>ate f a regi/]$ employees'
  sup]annu,n or p5.n fund or plan1 :
  provides = pay;ts 6! wid[ or a
  dep5dant (a dec1s$ employee or =m]
  employee1 s* pay;ts w 2 classifi$ z
  d1? b5efits1 ev5 if !y 3t9ue =a l;g "t
  on a p]iodic basis or =! life"t (!
  recipi5t4 ,ev5 if ! fund or plan -es
  )9 ! def9i;n ( 8employee b5efit plan0
  ! pay;ts >e n tax$ "u p>agraph      #h
              ,,it-#dii;,r           a#d
  #f7#a77g7 b >e taxa# "u subp>agraph
  #ef7#a77a77;iii7 6! ext5t provid$4 ,=a
  -plete 4cus.n on 8d1? b5efits0 see !
  curr5t v].n ( ,,it-#cja1 ,d1? ,b5efits
  --,qualify+ ,pay;ts & ,,it-#ejh1 ,d1?
  ,b5efits--,calcul,n4
#f4 ,an am.t rcvd \ (a sup]annu,n or
  p5.n fund or plan w n necess>ily 2
  rcvd 9 ca%4 ,= example1 a plan mi<t
  provide t on ! d1? ( an employee prior
  6retire;t an am.t equal 6! employee's
  3tribu;ns "u a p5.n plan1 plus 9t]e/
  "!on1 is 6be pd 6! surviv+ sp\se4 ,!
  surviv+ sp\se may direct t ! am.t1
  9/1d ( 2+ rcvd z a lump sum1 2 pd 6an
  9sur.e -pany =! pur*ase (a pd-up or
  "pi,y pd-up annu;y 3tract4 ,9 ? case1
  ! am.t pd 6! 9sur.e -pany w 2 deem$
  0p>agraph #bed7b7 6h be5 rcvd 0! sp\se
  z a sup]annu,n or p5.n b5efit at ! "t
  t pay;t 0 made f ! p5.n plan4 ,pay;ts
  "u ! 3tract w 2 3sid]$ annu;y pay;ts
  )a capital ele;t equal 6! applica#
                                      #i
              ,,it-#dii;,r           b#d
  por;n (! orig9al co/ (! annu;y t 0
  9clud$ 9 9come4

       ,annu;y ,3tracts ,"u ,p5.n
        ,plans 7p>agraphs #g-h7
    
#g4 ,9 c]ta9 cases1 "u a sup]annu,n or
  p5.n plan1 employ]s ma9ta9 annu;y
  3tracts 9 ! "ns ( _! employees4 ,^!
  3tracts may 2 9dividual 3tracts or a
  gr\p 3tract 9 respect ( all employees
  cov]$ 0! plan4 ,"s plans provide t1 if
  an employee l1ves ! employ;t prior
  6atta9+ ! retire;t age specifi$ 9 !
  plan1 "! w 2 rcvd f an 9sur.e -pany ei
  an 9dividual annu;y 3tract or a
  c]tificate %[+ ! employee's equ;y 9 a
  gr\p annu;y 3tract4 ,"u p>agraph
  #bed7a71 an annu;y 3tract issu$ 6an
  employee 9 ^! circum/.es does n give
  rise 69come 9 ! employee's h&s at ! "t
  ( issue4 ,any am.t subsequ5tly rcvd 0!
  ex-employee or o!r p]son "u ! 3tract1
  h["e1 :e!r                         #aj
              ,,it-#dii;,r            #e
  p]iodic,y ^u matur;y (! 3tract or z a
  lump sum !n or prior 6t "t1 is 9come
  :5 rcvd4 ,! am.ts s rcvd >e n tr1t$ z
  annu;y pay;ts b >e 9clud$ 9 9come ei
  "u subp>agraph #ef7#a77a77;i7 z
  sup]annu,n or p5.n b5efits or "u
  p>agraph #f7#a77g7 if ! plan is an
  employee b5efit plan4
#h4 ,a taxpay] :o has rcvd an annu;y
  3tract "u a sup]annu,n or p5.n plan z
  describ$ 9 #g abv may 2 5titl$ "u !
  3tract 69cr1se ! value 0pay+ fur!r
  premiums 96! plan 6secure a l>g]
  annu;y at matur;y4 ,= example1 !
  employee's equ;y 9 a 3tract rcvd 0!
  employee on ! s"e.e (! employ;t mi<t 2
  su6ici5t 6produce a life annu;y (1
  say1 4#aj1jjj a ye> at age #fe4 ,h["e1
  0pay+ premiums f t "t until age #fe1
  "! mi<t 2 acquir$ ! "r 6a life annu;y
  (1 say1 4#ae1jjj a ye> at age #fe4
  ,am.ts ev5tu,y rcvd "u ? annu;y 3tract
  wd 2 sup]annu,n or p5.n b5efits 7or
  employee b5efit plan pay;ts7 6!    #aa
              ,,it-#dii;,r           a#e
  ext5t ( 4#aj1jjj a ye> & annu;y pay;ts
  6! ext5t ( 4#e1jjj p] ye>4 ,9 s* a
  case1 ! capital ele;t (! 4#e1jjj
  annu;y pay;t wd n 2 taxa#4

     ,=eign ,p5.n ,plans 7p>agraph
                  #i7
    
#i4 ,=eign sup]annu,n or p5.n plans
  norm,y d n qualify = regi/r,n "u !
  ,9come ,tax ,act4 ,a p5.n rcvd 0a
  resid5t ( ,canada \ ( an unregi/]$
  =eign sup]annu,n or p5.n plan is
  subject 6tax 9 ! same way z a p5.n
  rcvd f a s\rce 9 ,canada "u
  subp>agraph #ef7#a77a77;i7 un.s
  exempt$ 0! provi.ns (a tax tr1ty4
  ,h["e1 ": a tax tr1ty does n 9t]v5e &!
  plan al qualifies z an 8employee
  b5efit plan0 & all or "p (! p5.n is
  attributa# 6s]vices r5d]$ 9 a p]iod
  dur+ : ! recipi5t 0 resid5t 9 ,canada1
  t por;n is br"\ 969come "u p>agraph
                                     #ab
              ,,it-#dii;,r           b#e
  #f7#a77g7 & exclud$ "u subp>agraph
  #ef7#a77a77;i74

        ,p5.n ,splits 7p>agraphs
                #aj-aa7
    
#aj4 ,if c]ta9 3di;ns >e met1 sec;n
  #fd.a (! ,canada ,p5.n ,plan all[s a
  plan 3tributor 6assign a por;n (
  pay;ts "u ! ,canada ,p5.n ,plan 6a
  sp\se4 ,if a taxpay]'s retire;t p5.n
  "u ! t]ms ( sec;n #fd.a (! ,canada
  ,p5.n ,plan 7or a -p>a# provi.n "u a
  prov9cial p5.n plan or a prescrib$
  prov9cial p5.n plan7 is divid$ 2t !
  sp\ses1 ! am.ts rcvd >e
--------------------------------------#f
  9clud$ 9 ! 9come (! recipi5t z a p5.n
  b5efit "u subp>agraph #ef7#a77a77;i74
  ,9 ^! circum/.es1 subsec;n #ef7#d7
  does n apply 6tax ! transf]or on !
  transf] ( p5.n b5efits 6a sp\se4
#aa4 ,if "! is a divi.n ( p5.n b5efits
  on a m>riage br1kd[n1 g5],y !      #ac
              ,,it-#dii;,r           a#f
  p5.n b5efits legisl,n (a prov9ce
  provides ! t]ms "u : a por;n (! p5.n
  b5efits (a memb] (a p5.n plan may 2 pd
  6a sp\se or =m] sp\se "u a dome/ic
  3tract1 a writt5 sep>,n agree;t1 or "u
  a divorce decree or c\rt ord] "u a
  prov9cial family law act relat+ 6a
  divi.n ( prop]ty on ! br1kd[n (!
  m>riage4 ,^u a divi.n ( p5.n b5efits 9
  ^! circum/.es1 ! por;n rcvd 0ea* sp\se
  or =m] sp\se at a "t p]mitt$ "u ! p5.n
  b5efits legisl,n (! prov9ce is 9clud$
  9 ! 9come ( t sp\se or =m] sp\se z a
  p5.n b5efit "u subp>agraph
  #ef7#a77a77;i74 ,! abv tax tr1t;t
  applies ev5 if ! adm9i/rator (! p5.n
  plan issues "o *eque 6! plan memb] :o
  is requir$ 6appor;n ! pay;ts4

       ,p5.n ,paya# 6,* ( ,dec1s$
        ,employee 7p>agraph #ab7
    
#ab4 ,:5 an employee dies &a p5.n plan
  specific,y provides =a p5.n bas$   #ad
              ,,it-#dii;,r           b#f
  on ! employee's l5g? ( s]vice 6be pd 9
  respect (a dep5d5t *1 t p5.n 2l;gs 6&
  is 9come (! * "u p>agraph #ef7#a77a7
  (! ,act4 ,? is s ev5 ?\< x may 2 pd 6a
  surviv+ sp\se or "s o!r p]son 9 _!
  capac;y z gu>dian (! *4

      ,orphan's ,b5efits 7p>agraph
                  #ac7
    
#ac4 ,an orphan's b5efit paya# "u !
  ,canada ,p5.n ,plan or ,quebec ,p5.n
  ,plan =a * "u #ah ye>s ( age is
  requir$ 6be pd 6! p]son or ag5cy hav+
  cu/ody & 3trol (! orphan4 ,despite ?
  require;t1 h["e1 ! b5efit s rcvd on !
  *'s 2half 2l;gs 6! * & is 9come (! *1
  n t (! actual recipi5t4

       ,o!r ,9t]pret,n ,bullet9s
             7p>agraph #ad7
    
#ad4 ,9 a4i;n 6! ,9t]pret,n ,bullet9s
  m5;n$ "h91 ! curr5t v].n (!        #ae
              ,,it-#dii;,r           c#f
  foll[+ ,bullet9s & ,9=m,n ,circul>s
  may 2 ref]r$ 6=a bett] "u/&+ (!
  subject3
  ,,it-#gf ,exempt ,por;n ( ,p5.n ,:5
    ,employee ,has ,be5 a ,non-,resid5t
--------------------------------------#g
  ,,it-#abb ,unit$ ,/ates ,social
    ,secur;y ,tax & ,b5efits
  ,,it-#bbb ,adv.es 6,employees
  ,,it-#bdg ,employ]'s ,3tribu;n
    6,p5.n]s' ,premiums ,"u ,prov9cial
    ,m$ical & ,hospital ,s]vices ,plans
  ,,ic #gb-ac ,employees' ,p5.n ,plans
  









                                     #af