I am showing income on T4 in line 67 - which is a severance/retiring allowance - can I split this income between 2015 and 2016?

[1rcwich1]

I am hoping that the severance allowance received when the company was sold can be split into future years when my income will be substantially lower.

Income shows up in line 67 on T4 maybe they should have placed this payment in line 66?

[TurboTaxJeffrey · Accepted solution]

You are required to report income in the tax year that it was paid.  Unfortunately you do not have the option of deferring part of the box 67 income to future tax years.