Wealthsimple Tax makes it easy to split your pension income with your partner.
If you and your partner have linked returns
Add the Pension Splitting section using the search box. Confirm that you want to split eligible pension income.
When you Check & Optimize your return, we’ll automatically determine who should split their pension and we’ll calculate the optimal split-pension amount. The optimizer must run (e.g., you must clear all errors) for us to apply pension splitting.
When the optimizer is done, you’ll have the opportunity to review the suggested (optimized) split pension amount. You can change the split amount by typing in the second column.
If you’re not using linked returns
- Add Pension Splitting using the search box.
- Indicate if you are the "Transferring partner" (higher income partner) or the “Receiving partner” (lower income partner).
- Complete all required fields.
Please note that we’re not able to determine the optimal split unless you’re using linked returns.