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Level 1

How can I transfer the pension income only, not the tax withheld at source, per the T4RIF, using the pension income splitting optimizer? Ron

It was not my intention for my wife to receive credit for taxes withheld from me on my RRIF withdrawal. How do I over-ride the tax withheld side of the pension transfer.

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Level 1

How can I transfer the pension income only, not the tax withheld at source, per the T4RIF, using the pension income splitting optimizer? Ron

Unfortunately, you can't. There is no way to split your pension income without splitting the taxes withheld as well. 

CRA rules are: The income tax that is withheld at source from the eligible pension income will have to be allocated from the transferring spouse or common-law partner to the receiving spouse or common-law partner in the same proportion as the pension income is allocated.

1 Reply
Level 1

How can I transfer the pension income only, not the tax withheld at source, per the T4RIF, using the pension income splitting optimizer? Ron

Unfortunately, you can't. There is no way to split your pension income without splitting the taxes withheld as well. 

CRA rules are: The income tax that is withheld at source from the eligible pension income will have to be allocated from the transferring spouse or common-law partner to the receiving spouse or common-law partner in the same proportion as the pension income is allocated.