Annual Pension Income Tax Credit
Age 65 or older in 2017?
Take advantage of the $2,000 annual Pension Income Tax Credit.
The pension income amount allows you aged 65 + to claim a federal non-refundable tax credit on up to $2,000 of eligible pension income.
If you don’t have a pension plan at work, there are ways to create pension income that qualifies for the pension income amount. One way is to convert your RRSPs to a RRIF. Another way is to use your RRSP money to buy an Guaranteed Life Annuity.
Qualifying pension income doesn’t include Canada Pension Plan (CPP), Old Age Security (OAS) or Guaranteed Income Supplement (GIS) payments.
To see how this may pertain specifically to you contact your personal Rothenberg advisor or call one of our offices:
T 514.934.0586 Westmount (head office)
T 514.697.0035 Pointe-Claire
T 450.321.0001 South Shore
T 403.228.2378 Calgary
We will explain the details AND we will take care of the paperwork for you!