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New Member
posted Oct 30, 2019 4:33:34 AM

How do i split a significant one time withdrawal I made from a RIF with my spouse?

I recorded it as my income but want to share it with her for the best tax benefit for the two of us.

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1 Best answer
New Member
Oct 30, 2019 4:33:35 AM

On the navigation bar at the top, click on Review > Split Your Pension with Your Spouse. This will bring you to the Pension Splitting screens. 

See screenshot for additional help.

3 Replies
New Member
Oct 30, 2019 4:33:35 AM

On the navigation bar at the top, click on Review > Split Your Pension with Your Spouse. This will bring you to the Pension Splitting screens. 

See screenshot for additional help.

Level 2
Apr 28, 2024 9:26:37 PM

I appreciate the Pension Optimizer, but can't see the "details" behind the screen.  That's great and I assume is working using both our regular pension streams incl CPP to determine how much to transfer.

 

My question is how do I know if the RIF payout I received was split with my spouse?

Moderator
Apr 29, 2024 3:40:09 PM

No, unfortunately, it doesn't show which pension is being split. 

If you are the recipient of the pension and are 65 or older, you may split income from your RRSP, RRIF, life annuity, and other qualifying payments. If you are under 65, only certain life annuity payments and amounts received from the death of a spouse (such as RRSP and RRIF) are eligible for pension splitting.

 

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