Pension income splitting
You (the transferring spouse or common-law partner) may be able to jointly elect with your spouse or common-law partner (the receiving spouse or common-law partner) to split your eligible pension income if you meet all of the requirements.
Topics
- 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 43700 of your return
- Other topics
Effect of pension income splitting on federal, provincial and territorial benefits, credits, programs, and instalments.
Transferring spouse or common-law partner
For the purpose of the joint election to split pension income, the transferring spouse or common-law partner is the individual who receives eligible pension income and who elects to allocate part of that income to their spouse or common-law partner (the receiving spouse or common-law partner).
Receiving spouse or common-law partner
For the purpose of the joint election to split pension income, the receiving spouse or common-law partner is the individual to whom is allocated part of the eligible pension income of their spouse or common-law partner (the transferring spouse or common-law partner).
Note
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 who will act as the transferring spouse or common-law partner and so elect to allocate part of their eligible pension income to their spouse or common-law partner (the receiving spouse or common-law partner).
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