we are under 65 and are we eligible for pension splitting?
Yes, individuals under age 65 are eligible for pension splitting if they receive lifetime annuity payments from a registered pension plan (RPP).These payments are reported in Box 16 of the T4A slip and transfer to Line 115 of the tax return which qualifies them as "eligible pension income" for pension splitting.
Note: RRIF income cannot be split under age 65.
Yes, individuals under age 65 are eligible for pension splitting if they receive lifetime annuity payments from a registered pension plan (RPP).These payments are reported in Box 16 of the T4A slip and transfer to Line 115 of the tax return which qualifies them as "eligible pension income" for pension splitting.
Note: RRIF income cannot be split under age 65.
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