Published | Category : Income tax - individuals
Splitting Retirement Income Between Spouses
Tax legislation will be amended to provide that, for the income splitting mechanism to be applicable in a particular taxation year, the person whose income is split must have reached 65 years of age before the end of the year, or, if the person died or ceased to be resident in Canada in the year, on the date of his or her death or the date on which he or she ceased to be resident in Canada.
This amendment will apply as of the 2014 taxation year.
For more information, see pages 65 to 67 of the document entitled Additional Information on the Fiscal Measures of the Budget (PDF – 795 KB) tabled on June 4, 2014, by the Ministère des Finances.