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The T1032 form is used if you (the pensioner or the transferring spouse) want to split your eligible pension income with your spouse or common-law partner (the pension transferee or the receiving spouse). By splitting your eligible pension income, you can: Lower your tax payable.
Year-end slips (including T4A forms) are sent to taxpayers/members by February 28 each year. T4 slip: statement of employment income for the tax year. This is issued by your school board/employer.
Once you have reached age 65, the income you are withdrawing from your RRIF is eligible to be split as well. It is important to note that withdrawals from an RRSP, or RRIF income prior to age 65, is not eligible to be split.
Any withdrawals from your RRIF, whether minimum withdrawals or other amounts, would qualify for pension splitting. Note that RRSP withdrawals are not considered to be pension income.
Pension splitting One form of traditional income splitting is the ability to split up to half of your pension income with your spouse or common-law partner. Any pension income that qualifies for the $2,000 federal pension income credit also qualifies to be split.
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Individuals who are age 55 or older are eligible to split pension income with their spouses.
A T4A, also known as the Statement of Pension, Retirement, Annuity and Other Income is a year-end tax form that shows when you have been paid the following types of income: Pension or Superannuation. Lump-sum Payments. Self-employed Commissions. Annuities.
You can share your Canada Pension Plan (CPP) retirement pension with your legal spouse or common-law partner. To do so, you must be receiving your pension, or be eligible to receive it, and be living with your legal spouse or common-law partner. Sharing your pension may result in tax savings.
What qualifies as eligible pension income? For those under age 65, the most common form of eligible income is from a registered company pension plan, whether defined benefit or defined contribution. Individuals who are age 55 or older are eligible to split pension income with their spouses.
You can view and print copies of your T4E for Employment Insurance (EI) and your T4A/NR4 for Canada Pension Plan (CPP) and Old Age Security (OAS) in MSCA. To do so, register for MSCA and select Tax slips. This service gives you access to your tax slips for the current year and the past 6 years.

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