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New Member
posted Oct 31, 2019 2:08:00 AM

No taxes on income in BC I am a senior and I do not pay back with my CPP OAS and Pension

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1 Best answer
Level 15
Oct 31, 2019 2:08:01 AM

Any income you receive from Canada Pension Plan (T4AP) Old Age Security (T4AOAS) and private pension plans (T4A) is taxable income. Only income from the Guaranteed Income Supplement in Box 21 of your T4AOAS slip is "not taxable".

However, as a senior you have higher personal amounts, therefore you are able to receive more income before it does become taxable. (It could be close to $20,000 depending on your personal situation).

1 Replies
Level 15
Oct 31, 2019 2:08:01 AM

Any income you receive from Canada Pension Plan (T4AP) Old Age Security (T4AOAS) and private pension plans (T4A) is taxable income. Only income from the Guaranteed Income Supplement in Box 21 of your T4AOAS slip is "not taxable".

However, as a senior you have higher personal amounts, therefore you are able to receive more income before it does become taxable. (It could be close to $20,000 depending on your personal situation).