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reza1532
Returning Member

Non-eligible retiring allowance

 I've worked for a company for 4 months. My total income was $49880 but in section 67 I have $11769 as non-eligible retiring allowance and it added up to my total income and made it to 61k.In TurboTax program it is counting  as extra income which is incorrect!!!!! My total income is just $49880.
Is there something wrong in my T4 or the software?
I'm filing this with my wife and I also didn't have any RRSP with that company.
Thanks
1 Reply

Non-eligible retiring allowance

Box 67 is an "ineligible" transfer, and this amount is added to your total income on Line 13000 of your tax return. 

 

If you had enough RRSP Contribution room and purchased an RRSP with the Box 67 amount, you would see an offsetting deduction on Line 20800.