Line 31400 – Pension income amount
Note: Line 31400 was line 314 before tax year 2019.
You may be able to claim up to $2,000 if you reported:
- eligible annuity or pension income (or both) on line 11500 of your return
- eligible pension income on line 11600 of your return
- annuity payments on line 12900 of your return (box 16 of your T4RSP slips) if you were 65 years of age or older on December 31, 2022, or, regardless of your age, you received payments because of the death of your spouse or common-law partner
For a more detailed list of eligible pension and annuity income, see the charts for Eligible Pension and Annuity Income (less than 65 years of age) or Eligible Pension and Annuity Income (65 years of age or older).
Eligible pension income does not include any of the following income amounts:
- foreign source pension income that is tax-free in Canada because of a tax treaty that allows you to claim a deduction on line 25600
- income from a United States individual retirement arrangement (IRA) account
- amounts from a RRIF included on line 11500 of your return that were transferred to an RRSP, another RRIF or an annuity
If you and your spouse or common-law partner elected to split 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 31400 of your and your spouse's or common-law partner's return.
Amounts such as old age security benefits, Canada Pension Plan benefits, Quebec Pension Plan benefits, death benefits, retiring allowances, excess amounts from a RRIF transferred to an RRSP, another RRIF or an annuity, amounts shown in boxes 18, 20, 26, 28, and 34 of your T4RSP slips, and amounts distributed from a retirement compensation arrangement shown on your T4A-RCA slips do not qualify for the pension income amount.
Answer the following questions to find out if you can claim the pension income amount.
Complete the chart for line 31400 using your Federal Worksheet and enter the result on line 31400 of your return.
Pension income splitting
If you are electing to split your eligible pension income with your spouse or common-law partner, complete Form T1032, Joint Election to Split Pension Income, to calculate the amount to enter on line 31400 of your return.
You may be able to transfer all or part of your pension income amount to your spouse or common-law partner or claim all or part of their pension income amount. For more information, go to line 32600.
Claim the corresponding provincial or territorial non-refundable tax credit that you may be entitled to on line 58360 of your provincial or territorial Form 428.
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