Why isn't there a pension income deduction amount listed under deductions?

[mm-barnes]

I didn't quite get the answer I was looking for but your answer was helpful. I should rephrase the question: Why isn't the pension amount listed under non-refundable credits not on your forms? I am entitled to it from doing the worksheet but it seems like I'm not getting credit for it in your calculations and there is nowhere that I can see to input it on your forms. The difference between my calculations of my taxes owing and your calculation of my taxes owing is $300 which happens to be what the pension amount works out to.

[TonyC11 · Accepted solution]

Pension income is neither exempt nor deductible from income. The only exception is pension income sourced from another country which is taxed in that country but exempt in Canada by treaty. Example India.

There is a Pension amount of $2000 maiximum that is a non-refundable credit. That makes it worth a whopping  $300 of tax paid.

This huge credit(!!) was upped from $1000 back in 2006 and has not been adjusted since, and no indications that it will, anytime soon. Complain to your MP.

[Rainday777]

Why does the 2000 pension amount deduction not show up? And why cant I enter it?

[TurboTaxBrenda1]

You will need to make sure that you qualify for the pension amount.

Amounts such as old age security benefits, Canada Pension Plan benefits, Quebec Pension Plan benefits, death benefits, retiring allowances, excess amounts from a RRIF transferred to an RRSP, another RRIF or an annuity, amounts shown in boxes 18, 20, 22, 26, 28, and 34 of your T4RSP slips, and amounts distributed from a retirement compensation arrangement shown on your T4A-RCA slips do not qualify for the pension income amount.

https://turbotax.intuit.ca/tips/can-you-claim-the-pension-income-amount-1300