Pension income splitting
- Eligible and non-eligible pension income
- Do you qualify to split your pension income?
- How do you split your pension income?
- How do you report your split-pension income amount?
- How do you claim the pension income amount?
- How to calculate the income tax deducted at source that you have to enter on line 437 of your return.
Effect of pension income splitting on federal, provincial and territorial benefits, credits, programs, and instalments.
For the purposes of the joint election to split pension income, the pensioner is the individual who receives eligible pension income and who elects to allocate part of that income to his or her spouse or common-law partner (the pension transferee).
For the purposes of the joint election to split pension income, the pension transferee is the individual to whom is allocated part of the eligible pension income of his spouse or common-law partner (the pensioner).
Only one joint election can be made for a tax year. If both you and your spouse or common-law partner have eligible pension income, you will have to decide which one of you will act as the pensioner and elect to allocate part of their eligible pension income to his or her spouse or common-law partner (the pension transferee).
Forms and publications
- General Income Tax and Benefit Package - Guide, Return, and Schedules
- Form T1032, Joint Election to Split Pension Income
- Line 115 - Other pensions or superannuation
- Line 116 - Elected split-pension amount
- Line 129 - RRSP income
- Line 210 - Deduction for elected split-pension amount
- Line 314 - Pension income amount
- Line 437 - Total income tax deducted
- Date modified: