# RRIF income



## Ben1491 (Jan 13, 2012)

I'll turn 71 this year. Need to transfer my RRSP to RRIF. My wife is 65. Currently we both receives government pension and OAS. Next year I will have to withdraw money from my RRIF based on my wife's age. My question is, can I split the amount of income from my RRIF for tax purpose, even my wife has not transfer her RRSP to RRIF ?
Thanks.


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## cardhu (May 26, 2009)

Yes ... any income that is eligible for the Pension Amount tax credit can be split. Note that it doesn't have to be an exact split, you can shift any amount from 0% to 50% of your RRIF income, to your spouse, whatever works out to your greatest benefit. 

Unlike the splitting of CPP income, in which they actually send your spouse a separate cheque, and a separate T-slip, with pension splitting you will continue to receive the full amount in your name, and the T-slip should be in your name also, but the shift occurs on the tax form itself.


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## OhGreatGuru (May 24, 2009)

In case it wasn't clear why, RRIF income after age 65 is reported on Line 115, where it is eligible for pension splitting. RRIF income before age 65 is reported on Line 130.


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## Ben1491 (Jan 13, 2012)

Thank you very much guys. It is good to know. I have been using U-file to file tax last few years. Guess it would have all the necessary lines to fill in with these matter. Hope I will not miss this.
One more question. I have a lock-in RRSP plan. Is the minimum withdraw rate is same as for the normal RRSP ? Many thanks.


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## Ben1491 (Jan 13, 2012)

Thank you guys. I'll make sure I remember that when I file my tax in spring 2014. (I use tax program, hope it has the proper lines for me to input.)


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