How do you claim the pension income amount?

If you (the pensioner) and your spouse or common-law partner (the pension transferee) elected to split your eligible pension income, follow the instructions at Step 4 on Form T1032, Joint Election to Split Pension Income, to calculate the amount to enter on line 314 of your and your spouse's or common-law partner's Schedule 1 .

You (the pensioner) will be able to claim whichever amount is less: $2,000 or the amount of your eligible pension income, after excluding amounts allocated to your spouse or common-law partner (the pension transferee).

Your spouse or common-law partner (the pension transferee) will be able to claim whichever amount is less: $2,000 or the amount of his or her pension income that is eligible for the pension income amount (based on the calculation for line 314 on the federal worksheet), including the allocated pension income that is eligible for the pension income amount.

Notes

The pension that qualifies for the pension income amount for the pensioner does not necessarily qualify for the pension income amount for the spouse or common-law partner (the pension transferee), because eligibility can depend on age.

If your spouse or common-law partner (the pension transferee) was under 65 years of age on December 31 of the year and you (the pensioner) are 65 years of age or older and you received any RRIF, RRSP, other annuity payments, variable pension benefits paid from a money purchase provision of a registered pension plan, or a payment out of a pooled registered pension plan (other than amounts received due to the death of his or her former spouse or common-law partner) that you want to allocate to your spouse or common-law partner (the pension transferee), read the note in Step 4 of Form T1032 to determine the amount to enter on line 314 of your spouse's or common-law partner's Schedule 1.

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