Amount for Retirement Income

You can claim an amount that will reduce your income tax payable if you or your spouse on December 31 entered an amount on line 122 or line 123 of the income tax return.

The Old Age Security pension, pensions paid under the Québec Pension Plan or the Canada Pension Plan and life annuity payments made under a retirement compensation arrangement do not entitle you to the amount for retirement income.

For more information, see the instructions regarding the amount for retirement income at line 361 in the guide to the income tax return (TP-1.G-V).

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