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UFile2019- Splitting Pension Income issue


Bikora2020
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Please tell me how this was resolved.  I am in the same position whereby my pension is being split with my spouse who is a higher earner.  I can't seem to stop the program from doing this or confirming via sensitivity analysis if the default splitting is to my advantage.  Thanks 

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  • 10 months later...

Pension splitting may result in adding income to a higher income spouse but look carefully at the credits and the net family tax paid. The goal is to achieve a lower family (couples) tax paid amount. If one spouse does not have a pension then a pension split can provide an extra pension deduction/credit by allocating pension income to them. The pension split takes into account medical expenses, OAS clawbacks and other items. On the surface it may appear to increase one spouse's income but overall it can lower the combined tax paid. Make sure you test the difference before you opt to not split the pension.

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