JimJ Posted April 17, 2022 Report Share Posted April 17, 2022 T1032 is used to transfer pension income between spouses. I let the s/w "optimize" our combined returns. But it produces a large refund for one and a roughly equal amount owing on the other return. How do I access the T1032 so that the refund & owing are both reduced? JimJ Quote Link to comment Share on other sites More sharing options...
TheTaxSmith Posted April 17, 2022 Report Share Posted April 17, 2022 Look for the pension splitting analysis form when you calculate your return. It indicates the benefit for the pension split. If it indicates a net over all reduction in tax for your family then all good. It does happen that due to similar incomes and deductions being shared that the difference might be minimal. To test you can turn off pension splitting but the program is usually working in your interests no matter how small that is. Quote Link to comment Share on other sites More sharing options...
GregoryL Posted February 28, 2023 Report Share Posted February 28, 2023 How does Ufile determine who is the transferring spouse for the purposes of Form T1032 filing? I selected splitting pension income for both myself and my spouse in the T4 and income pension option. Does Ufile automatically select the transferring based on minimizing family taxes? Or do I have to specify the transferring spouse in the software? Quote Link to comment Share on other sites More sharing options...
Curmudgeon Posted February 28, 2023 Report Share Posted February 28, 2023 The selection is based on minimizing family taxes. Because of the OAS and other clawbacks, this can result in the lower income spouse transferring pension to the higher income. Strange but true. Quote Link to comment Share on other sites More sharing options...
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