Seniors and students

First, it depends on your pension income source, whether it is eligible for splitting or not.


From what you said, you are both high-income earners. Pension income splits are only worth considering if you have a higher marginal tax bracket than your spouse.

 

For more information and which pension income is eligible for splitting, please click:

TurboTax  Understanding Pension Income Splitting for Seniors or Tax Tip: Income splitting benefits.

 

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