ARCHIVED - Line 115 - Other pensions or superannuation

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Enter on this line any other pensions or superannuation you received (box 16 on T4A slips and box 31 on T3 slips). If you received any lump-sum income (box 18 of your T4A slip or box 22 of your T3 slip), report it on line 130.

You may also have to report on this line other amounts that you received. Read the parts of this section that correspond to the type of income you have. The section is divided as follows: Annuity payments and Pensions from a foreign country.

Tax Tip
If you have to report your pension or annuity payments on line 115, you may be able to claim the pension income amount. See line 314 for details.

Ann uity payments

You may have received annuity payments from:

• general annuities or income-averaging annuity contracts (box 19 on T5 slips and box 24 on T4A slips);
• deferred profit-sharing plans (box 28 on T4A slips); or
• registered retirement income funds (box 16 and box 20 on T4RIF slips). If there is also an amount in box 24 of your T4RIF slip, get the income tax guide called RRSP and Other Registered Plans for Retirement.

Report your annuity payments as follows:

• If you were 65 or older on December 31, 1995, enter them on line 115.
• If you received them at any age because your spouse died, enter them on line 115.
• In all other cases, enter them on line 130 unless the payments are shown in box 19 of your T5 slip. If they appear in box 19, enter them on line 121.

Pens ions from a foreign country

Report on line 115 the total amount of your foreign pension income. Report this income in Canadian dollars. Convert it using the exchange rate in effect on the day you received it. If the pension was paid at various times throughout the year, you can contact us to get an average annual rate.

Attach a note identifying the type of pension you received and where it came from.

You may have to report amounts you received from custodial, trusteed, and annuity United States individual retirement accounts (IRAs). For details, contact us.

Tax Tip

You can claim a deduction on line 256 for the part of your foreign pension income that is tax-free under a tax treaty. If you do not know whether any part of your foreign pension is tax-free in Canada, contact us.

United States social security - Enter on line 115 the full amount of your social security in Canadian dollars. However, you can claim a deduction on line 256 for one-half of this amount. Benefits paid for your children are their income, even if you received the payments.

Note

Under proposed changes to the Canada-United States Tax Convention, starting in 1996, you will no longer be taxed in Canada on your U.S. social security benefits. However, these payments may be subject to U.S. withholding tax. For more information, contact us.

Date modified:

2002-02-04