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Turned 65 in 2017. Self employed. Was going to stop contributions to CPP but it looks like I have to be collecting CPP payments also. Is this correct?
October 31, 2019
1:30 AM
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Seniors and students
Yes, this is correct. In order to make the election to stop contributing to CPP, you must be between the ages of 65 and 70 and receiving your CPP Retirement Benefits.
This term is found on the Schedule 8 itself from CRA regarding the date you can make the election: "The date cannot be earlier than the
month you turn 65 and you are receiving a CPP or QPP retirement pension".
https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-s8/5000-s8-18e.pdf
October 31, 2019
1:30 AM
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Seniors and students
I am using the new online version of Turbo Tax and cannot find
5000-S8 Schedule 8!!
How do I find and fill out this form so that my wife and I can stop paying CPP.
FYI..both of us are over 65 and receiving CCP.
Zordon
March 7, 2022
3:54 PM