Optimize pension-splitting

Optimize the pension-split amount for a client

1. Open Form T1032 - Joint Election to Split Pension Income for 20[YY] in the return of the person receiving the pension:

2. Click the box to indicate the person is the Pensioner:

3. Locate section Step 3 - Elected split-pension amount:

4. Click the Split-Pension Income link. The T1032Opt  Optimize - Split-pension income form opens:

5.  Right-click anywhere on the T1032Opt form. The following menu displays:

6. Click the Optimize split pension income option.

The T1032Opt form populates with the optimum suggested split-pension information. At the bottom of the form, a graph displays various impacts on the combined refund/balance dues at various pension income split dollar values.

7. Enter the amount desired in Field G. The T1032 form populates based on the split-income selection.

Use the scenarios in the Calculator section

1. Click in the Elected split-pension amount box under Scenario 1.
2. Enter the amount of pension income to be split.
3. Press OK.

The calculator displays the Total Payable and Balance Owing for each individual, as well as combined totals for the couple.