Fill - Free fillable Joint Election to Split Pension Income for 2019 (Government of Canada) PDF form

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Joint Election to Split Pension Income for 2019

If you are filing electronically, keep this form in case we ask to see it later. If you are filing a paper return, you must complete, sign,

and attach copies of this form to both your return and your spouse or common-law partner's return. The information on the forms

must be the same.

Complete this form if you (the transferring spouse or common-law partner) are electing to split your eligible pension income with

your spouse or common-law partner (the receiving spouse or common-law partner) and if you meet all of the following

conditions:

•

You and your spouse or common-law partner were not living separate and apart from each other, because of a breakdown in

your marriage or common-law partnership, at the end of the tax year and for a period of 90 days or more beginning in the tax

year.

•

You and your spouse or common-law partner were residents of Canada on December 31, 2019 (or on the date of death).

•

You received pension income in the tax year qualifying for the pension income amount (see "Retirement income – Summary

table" in Step 2 of the Federal Income Tax and Benefit Guide) or you were 65 years of age or older and received certain

qualifying amounts distributed from a retirement compensation arrangement (Box 17 of your T4A-RCA slips).

Only one joint election can be made for a tax year. If both you and your spouse or common-law partner have eligible pension

income, you need to decide who will act as the transferring spouse or common-law partner electing to allocate part of their eligible

pension income to the other spouse or common-law partner (the receiving spouse or common-law partner).

This form needs to be filed by your filing due date for the year. For more information on filing due dates, see the Federal Income

Tax and Benefit Guide. We may allow you to make a late or amended election, or revoke an original election, under certain

circumstances. Contact us if you need more information.

Step 1 – Identification

Information about you (the transferring spouse or common-law partner)

Last name First name Social insurance number

Home address

Postal code

Information about your spouse or common-law partner (the receiving spouse or common-law partner)

Last name First name Social insurance number

Home address (if different from above) Postal code

Continued on the next page

T1032 E (19) (Ce formulaire est disponible en français.)

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Step 2 – Maximum split-pension amount

To calculate the eligible pension income amount, the transferring spouse or common-law partner must complete line 31400

of the Worksheet for the return found in the Income tax package.

68020

Enter the amount from line A of the transferring spouse's or common-law partner's

Worksheet for the return

68025

Enter the amount from box 128 of the transferring spouse's or common-law partner's T4A slip

–

A.1

Amount from line 68020 minus the amount from line 68025

Qualifying RCA payments and veteran's benefits

If you were 65 years of age or older on December 31, 2019 (or on the date of death) and received

life annuity payments from a retirement compensation arrangement (RCA) or you received veterans

benefits, complete lines 1 to 4. Otherwise, enter "0" on line B.

68026

Enter the amount from box 17 of the transferring spouse's or

common-law partner's T4A-RCA slips

Enter the amount from line 68025

Add lines 1 and 2 =

$105,895 minus the amount from line A.1(if negative, enter "0")

Enter the lesser of lines 3 and 4 +

Add lines A.1 and B =

Marital status change

If your marital status changed during the tax year, calculate the eligible pension income for

the period that you were married or living common-law. Otherwise, enter the amount from line C

on line E.

68030

Number of months

married or living

common-law

Divided by:

Number of months

in the tax year

12*

Amount from line C

If the transferring spouse or common-law partner is deceased, use the number of months up to and

including the month of death.

Enter the amount from line D, if it applies. Otherwise, enter the amount from line C.

50%

Maximum split-pension amount

Multiply the amount on line E by 50% =

Step 3 – Elected split-pension amount

Enter the amount that you and your spouse or common-law partner decide to jointly elect to be

your split-pension amount for the year. The split-pension amount cannot be more than the amount

from Line F.

Enter this amount on line 21000 of the transferring spouse's or common-law partner's return

and on line 11600 of the receiving spouse's or common-law partner's return.

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Step 4 – Pension income amount (line 31400)

Part A – Calculate the pension income amount of the transferring spouse or common-law partner

Amount from line A

Amount from line G, unless Note 1 below applies –

Line H minus line J

Enter $2,000 or the amount from line K, whichever is less, on line 31400 of the transferring

spouse or common-law partner's return.

Note 1

If the transferring spouse or common-law partner entered an amount on line B, complete the

following calculation and enter the result on line J: line G – [((line B – line 2) ÷ line C) × line G]

Part B – Calculate the pension income amount of the receiving spouse or common-law partner

If there is an amount on line 11500 or line 12900 of the receiving spouse's or common-law

partner's return, enter the amount from line A of their Worksheet for the return. Otherwise,

enter "0".

Amount from line J, unless Note 2a below applies

Add lines L and M =

Enter $2,000 or the amount from line N, whichever is less, on line 31400 of the receiving spouse's

or common-law partner's return.

Note 2a

If all of the following conditions apply, read Note 2b below:

•

the amount on line L is less than $2,000

•

the receiving spouse or common-law partner was under age 65 on December 31, 2019.

• the transferring spouse or common-law partner was age 65 or older and

received any:

–

RRIF, RRSP, or other annuity payments

–

variable pension benefits paid from a money-purchase provision of a registered

pension plan

–

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

death of their former spouse or common-law partner)

–

veteran's benefits included on line 2 of this form

Note 2b

If Note 2a applies, calculate the amount to enter on line M as follows:

(1)

Recalculate the amount on line A.1 by deducting any of the following sources of pension

income:

–

RRIF, RRSP, or 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

–

any payment out of a pooled registered pension plan (other than amounts received due

to the death of their former spouse or common-law partner)

(2)

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

(3)

If the result from (1) above is less than $4,000, recalculate Steps 2 and 3 only using the

result from (1) as the amount for line C. Enter on line M the lesser of the amount from

line G or J.

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Step 5 – Income tax deducted (line 43700)

68040

Enter the total tax deducted from the transferring spouse's or common-law partner's pension

income entered on line C*

•

* If the transferring spouse's or common-law partner's 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 for each slip as follows:

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

Calculate the tax deducted for the elected split-pension amount:

68050

Amount from line O

Amount from line G

Divided by:

Amount from line C

•

Part A – Calculate the income tax deducted for the transferring spouse or common-law partner

Total tax deducted from all of the transferring spouse or common-law

partner's slips**

Amount from line P –

Line 1 minus line 2

Enter the result on line 43700 of the transferring spouse's or common-law partner's return.

Part B – Calculate the income tax deducted for the receiving spouse or common-law partner

Total tax deducted from all of the receiving spouse or common-law

partner's slips**

Amount from line P +

Line 1 plus line 2 =

Enter the result on line 43700 of the receiving spouse's or common-law partner's return.

** Enter the amount that you would have entered on line 43700 of your return if you did not choose to split your eligible pension income.

If you were a resident of Quebec on December 31, 2019, 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 transferring spouse or common-law partner and reported as

income by the receiving spouse or common-law partner on our income tax and benefit returns for 2019.

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.

Signature of transferring spouse or common-law partner

Date

Signature of receiving spouse or common-law partner

Date

It is a serious offence to make a false statement.

See the privacy notice on your return.

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