Solved: My wife still works and make more money then I do,...

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My wife still works and make more money then I do, I'm on a pension would it make sense to split my pension with her?

this is a Canadian tax return. The location in the program INCOME & EXPENSES,

pull down - Other income sources, then check box - Split pension income with your spouse. Then proceed, this doesn't make sense in my case by splitting the pension with my wife I'm going to decrease my pension amount in a lower tax bracket and increase my wife income in a higher tax bracket

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Moderator

My wife still works and make more money then I do, I'm on a pension would it make sense to split my pension with her?

Pension income splitting will decrease your income but it will increase your spouse's income.  The only way to know for sure if it will be beneficial for the both of you is to enter it on the tax return and see what the outcome is before you submit your income tax returns.

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Highlighted
Moderator

My wife still works and make more money then I do, I'm on a pension would it make sense to split my pension with her?

Pension income splitting will decrease your income but it will increase your spouse's income.  The only way to know for sure if it will be beneficial for the both of you is to enter it on the tax return and see what the outcome is before you submit your income tax returns.

View solution in original post