Joint Election To Split Pension Income For 2015 (Page 2 of 2) in pdf

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Protected B

when completed

Step 4 – Pension income amount

Part A – If you are the pensioner, complete the following calculation:

Amount from line A

–

Amount from line G unless

Note 1

below applies

Line H minus line J

Enter on line 314 of your Schedule 1, $2,000 or the amount from line K, whichever is less.

Do not enter the amount from line K anywhere else on this form.

Part B – If you are the pension transferee, complete the following calculation:

If you have an amount on line 115 or line 129 of your return, enter the amount from line A from the chart

for line 314 on your Federal Worksheet. Otherwise, enter "0".

Amount from line J unless

Note 2

below applies

Add lines L and M.

Enter on line 314 of your Schedule 1, $2,000 or the amount from line N, whichever is less.

Do not enter the amount from line N anywhere else on this form.

Note 1

If you entered an amount on line B, enter on line J the amount from line G excluding the proportionate amount of line B included

in the amount at line G. The proportionate amount is calculated as follows: (line B ÷ line C) x line G.

Note 2

If the amount on line L is less than $2,000, you (the pension transferee) were under age 65 on December 31 of the year and the pensioner

is age 65 or older, and he or she received any RRIF, RRSP, other annuity payments, variable pension benefits paid from a money purchase

provision of a registered pension plan, or a payment out of a pooled registered pension plan (other than amounts received due to the death

of his or her former spouse or common-law partner), calculate the amount to enter on line M as follows (use a separate sheet):

(1) Exclude from the amount at line A of this form any RRIF, RRSP, other annuity payments received by your spouse or common-law

partner, variable pension benefits paid from a money purchase provision of a registered pension plan, or a payment out of a pooled

registered pension plan (other than amounts received due to the death of his or her former spouse or common-law partner).

(2) If the balance from (1) above is $4,000 or more, enter on line M the amount from line J.

(3) If the balance from (1) above is less than $4,000, complete the Step 2 calculation using the balance from (1) as the amount for

line A. Enter on line M the lesser of the amount from line J or the amount of line G if Steps 2 and 3 were recalculated to exclude

the proportionate amount of line B from line F. (To calculate the proportionate amount, see Note 1 above.)

Step 5 – Income tax deducted (line 437)

As a pensioner, enter the total tax deducted from your information slips

6804

that relates only to the pension income entered on line

C.*

•

* As a pensioner, if your information slip(s) include(s) income tax deducted for both eligible and non-eligible pension income on the

same slip, calculate the proportionate amount of tax deducted to be included at line O as follows for each slip:

(Eligible pension ÷ total of eligible and non-eligible pension) x total tax deducted.

You must complete the following calculation to determine the part of the tax deducted that relates to the elected split-pension amount:

Amount from line O

Amount from line G

6805

Amount from line C

• P

If you are the pensioner, complete the following calculation

If you are the pension transferee, complete the following calculation

to determine the amount to enter on line 437 of your return:

Total tax deducted from all your

slips**

Total tax deducted from all your

slips**

–

Amount from line P

Line 1 minus line 2

Line 1 plus line 2

Enter the result on line 437.

** Enter the amount that you would have entered on line 437 of your return if you did not choose to split your eligible pension income.

If you were a resident of Quebec on December 31, 2015, do not include any of your Quebec provincial income tax deducted.

Step 6 – Joint certification

By completing this form and signing below, we jointly elect and agree that the split-pension amount entered on line G of Step 3 will be

deducted in computing the net income of the pensioner and reported as income by the pension transferee on our income tax returns for

the 2015 tax year. We understand that we will be jointly and severally liable for any amounts of tax, interest and penalties that may be

owing as a result of this election.

Sign here

Date

Pensioner

Spouse's or common-law partner's signature

Date

Pension transferee

It is a serious offence to make a false statement.

See the privacy notice on your return.

Joint Election To Split Pension Income For 2015 Page 2

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