TaxTips.ca - Seniors Income Tax and Government Benefits

TaxTips.ca Canadian Tax and Financial Information	Seniors	TaxTips.ca does not research or endorse any product or service appearing in ads on this site. Before making a major financial decision you should consult a qualified professional. Copyright © 2012
Looking for US tax information? See USTaxTips.net

List your firm for free in the TaxTips.ca Business Directory.

Need an accounting, tax or financial advisor? Look in the TaxTips.ca Business Directory.

Financial Planning -> Seniors

Topics and Resources for Seniors

Government Benefits, Programs and Services - federal and provincial/territorial

Wills and Estate Planning

Government income programs

Old Age Security Pension (OAS)

Guaranteed Income Supplement (GIS) for Canadian seniors, the Allowance, and the Allowance for the Survivor

Canada Pension Plan (CPP) Retirement Pension

CPP retirement pension rules, including recent changes

Canada Pension Plan Survivor Benefits (not just for seniors)

Canada Pension Plan Disability Benefit (not just for seniors)

Did you stay home to raise young children? Make sure you apply for the Child Rearing Drop-out when you apply for any CPP benefits.

Québec Pension Plan (QPP) on Québec Pension Board website

Income tax information

Pension splitting

Age amount tax credit (reduced when income exceeds threshold)

Attendant care expenses

Attendant care expenses paid to a retirement home

Disability supports deduction

Amount for an eligible dependent - A single person can claim a tax credit for a dependent child, grandchild, sibling, parent or grandparent.

Caregiver amount tax credit may be available if (dependent or non-dependent) parent or grandparent (over 65) lives with you, or if a dependent relative lives with you.

See non-refundable tax credits on the Filing Your Return page for tax credits available for seniors.

Do you qualify for the Service for Seniors Telefile to file your tax return?

Access your Old Age Security (OAS) and Canada Pension Plan (CPP) tax slips online.

You might save tax by sharing your CPP retirement pension with your spouse.

Tax Comparison of Canadian Dividends vs Other Income for Seniors

Revised: December 18, 2011

Copyright © 2011 See Reproduction of information on TaxTips.ca

The information on this site is not intended to be a substitute for professional advice. Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage.
See our Business Directory for tax, accounting and finance-related firms in your area.
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.