Note: This information applies to partners who have not linked their profiles in Wealthsimple Tax.
Importance of accurate partner income:
- Used by Wealthsimple Tax, CRA, and Revenu Québec (if applicable) to calculate certain credits
- Ensures you claim only the credits you're eligible for
- Prevents potential issues with your tax return
If you choose not to report your partner's income:
- Navigate to the Your Partner section in your tax profile
- Look for the checkbox indicating you don't want to report your partner's income: "Check here if you won't report your partner's income"
- Be aware that checking this box will prevent you from claiming several credits
Credits affected by not reporting partner's income:
- Federal/provincial/territorial amount for a spouse or common-law partner
- GST/HST credit
- Canada Workers Benefit
- Various provincial credits, including:
- BC Sales Tax Credit
- Manitoba Family Tax Reduction
- Manitoba Personal Tax Credit, Education Property Tax Credit and School Tax credit
- Ontario tax reduction for dependants, Trillium credits, and sales tax credit
- Nova Scotia low-income tax reduction
- New Brunswick low-income tax reduction
- Newfoundland and Labrador low-income tax reduction
- Northwest Territories' cost of living supplement
To claim these credits:
- Uncheck the box for "Check here if you won't report your partner's income" in the Your Partner section
- Enter your partner's income accurately
Important note for Québec residents:
- The option to not report a partner's income is not available
- You must enter your spouse's net income if you reside in Québec
Remember:
- Accurate reporting of partner income ensures you receive all eligible credits
- If unsure about your partner's income, it's better to estimate than to leave it blank
If you need assistance entering your partner's income in Wealthsimple Tax, please contact Wealthsimple support. For questions about how your partner's income affects your specific tax situation, consider consulting with a tax expert.
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