Section 60.03

Eligible pension income

Numerical examples where an individual over 65 in receipt of a pension out of a registered pension plan also receives an annuity out of a RCA.

What is the meaning of "life annuity"? CRA responded:

RCA benefits that are payable on a periodic basis for the lifetime of the member of the RCA...

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Respecting "the eligibility of amounts received out of a supplementary employee retirement plan ("SERP") for pension income splitting", CRA...

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CRA stated that, where a Canadian-resident individual converts a traditional US Individual Retirement Account ("IRA") to a Roth IRA, the amount of...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 118 - Subsection 118(7) - Pension Income		62
Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(a) - Subparagraph 56(1)(a)(i)		227
Tax Topics - Treaties - Article 18		227

…Spouses will now be able to split RCA distributions to the extent that the beneficiary of the income is at least 65 years of...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 20 - Subsection 20(1) - Paragraph 20(1)(r)		172
Tax Topics - Income Tax Act - Section 207.5 - Subsection 207.5(1) - Refundable Tax		406
Tax Topics - Income Tax Act - Section 207.6 - Subsection 207.6(5)		185
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Retirement Compensation Arrangement		77
Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Salary Deferral Arrangements		242
Tax Topics - Income Tax Act - Section 6 - Subsection 6(11)		192
Tax Topics - Income Tax Act - Section 60 - Paragraph 60(t)		230
Tax Topics - Income Tax Regulations - Regulation 6804 - Subsection 6804(6)		380
Tax Topics - Treaties - Article 18		327

CRA confirmed that a joint s. 60.03(1) election can be made by a pensioner (Mrs.) and a pension transferee (Mr.) in the situation where the...

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Locations of other summaries		Wordcount
Tax Topics - Income Tax Act - Section 128 - Subsection 128(2) - Paragraph 128(2)(f)	s. 60.03 deductions/inclusions still available	64