Line 31400 - Pension income amount
Line 31400 - Pension income amount
You may be able to claim up to $2,000 if you reported eligible pension, superannuation or annuity payments on line 11500, line 11600 or line 12900 of your return.
Eligibility
You may be able to claim up to $2,000 if you reported:
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eligible annuity or pension income (or both) on line 11500 of your return
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eligible pension income on line 11600 of your return
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annuity payments on line 12900 of your return (box 16 of your T4RSP slips) if either:
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You were 65 years of age or older on December 31, 2024
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You received payments because of the death of your spouse or common-law partner
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For a list of eligible pension and annuity income, go to canada.ca/line-31400.
Eligible pension income does not include any of the following income amounts:
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foreign source pension income that is tax-free in Canada because of a tax treaty that allows you to claim a deduction on line 25600
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income from a United States individual retirement arrangement (IRA) account
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amounts from a RRIF included on line 11500 of your return that were transferred to an RRSP, another RRIF or an annuity
If you and your spouse or common-law partner elected to split pension income, follow the instructions at Step 4 of Form T1032, Joint Election to Split Pension Income, to calculate the amount to enter on line 31400 of your and your spouse's or common-law partner's return.
Note
Amounts such as old age security benefits, Canada
Pension Plan benefits, Quebec Pension Plan benefits,
death benefits, retiring allowances, excess amounts from
a RRIF transferred to an RRSP, another RRIF or an
annuity, amounts shown in boxes 18, 20, 26, 28 and 34
of your T4RSP slips, and amounts distributed from a
retirement compensation arrangement shown on your
T4A-RCA slips do not qualify for the pension
income amount.
Completing your return
Complete the chart for line 31400 using your Federal Worksheet and enter the result on line 31400 of your return.
Pension income splitting
If you are electing to split your eligible pension income with your spouse or common-law partner, complete Form T1032, Joint Election to Split Pension Income, to calculate the amount to enter on line 31400 of your return.
Tax tips
You may be able to transfer all or part of your pension
income amount to your spouse or common-law partner
or claim all or part of their pension income amount. For
more information, see line 32600.
Claim the corresponding provincial or territorial non-refundable tax credit that you may be entitled to on line 58360 of your provincial or territorial Form 428.
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