Box 106 - Death benefits

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Box 106 - Death benefits

This amount is a death benefit from sources other than the Canada Pension Plan or the Quebec Pension Plan.

If you are the spouse or common-law partner, and the sole beneficiary of the death benefit, you may claim the maximum $10,000 exemption. Report the portion of the death benefit that is more than $10,000 on line 130 of your return.

If you are not the surviving spouse or common-law partner, but you are the sole beneficiary of the death benefit, you may report on line 130 of your return the portion of the death benefit that is more than $10,000.

If a spouse and common-law partner are beneficiaries of the death benefit, the $10,000 exemption is divided between the spouse and common-law partner, in proportion to the amount each of them received.

Note

The total exempt portion of the death benefit for the spouse and common-law partner cannot be more than $10,000. The spouse and common-law partner must report, on line 130 of his or her return, the portion of the death benefit he or she receives that is more than the exempt portion.

If you, along with several people, including the surviving spouse or common-law partner, are the beneficiaries of the death benefit, the portion of the $10,000 exemption not claimed by the surviving spouse or common-law partner must be split among the remaining beneficiaries according to the amount of the death benefit each beneficiary received.

You must report, on line 130 of your return, the portion of the death benefit that is more than your exempt portion.

If a death benefit is paid over more than one year, adjustments to previous years' returns may be required.

Attach a note to the return naming all beneficiaries, the death benefit received, and the amount being reported.

For more information, see Interpretation Bulletin IT-508, Death Benefits.

If you have any questions about the amounts shown on your T4A slip, contact the issuer of the slip.

Date modified:
2016-01-05