Phone: (403) 934-3176   Toll Free: 1-866-934-3176   Fax: (403) 934-3182   Client Portal
resources banner

Personal

Seniors

An individual whose 2017 net income exceeds $74,788 will have their Old Age Security payment clawed back.

Individuals will begin to lose their income tax age credit if their net income exceeds $36,430. If their net income exceeds $84,597 they cannot claim the age credit. However, they may be able to transfer all or part of their age amount to their spouse or common-law partner or to claim all or part of his or her age amount.

Since 2009, persons eligible for the $2,000 pension income credit will be able to transfer up to 50% of pension income to a resident spouse/common-law partner. This will require a joint election which must be made each year. Both persons must agree to the allocation.