CPP Sharing Demystified

Описание: Many retirees know that they have the ability to “split” certain types of retirement income. Pension income, and RRIF income (provided that the annuitant is over the age of 65) can be split with a lower income spouse in order to average down your tax bill.

In many cases, retirees are surprised to learn that CPP benefits cannot technically be split on the tax return. They can, however, be shared. CPP sharing can produce the same effect as income splitting but it’s not a perfect process and it takes some work to figure out whether it makes sense for you.

In this video, I am going to explain what CPP sharing is and how it works, and the conditions that need to exist so that CPP sharing makes sense for you. Then I am going to close with an example of a hypothetical retirement couple who used CPP pension sharing to lower their lifetime tax bill.

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TIMESTAMPS:
0:00 - Introduction
1:06 - CPP Sharing Explained
1:48 - Before CPP Pension Sharing
3:17 - The CPP Sharing Calculation
5:51 - After CPP Pension Sharing
7:04 - Closing