# Pension Income Splitting Optimizer

This feature is not available in QuickTax Basic. To add this feature, upgrade QuickTax.

Enter your pension income and elect to split it in the Income section of the interview. The optimizer will then automatically open in the Review section of the interview.

Enter your pension income and elect to split it.

Note: Not all pension income is eligible for splitting. QuickTax automatically determines which amounts can be split with your spouse.

If you are married or living common-law, and one or both of you receive pension income, it might make tax sense to split pension income if you are in different tax brackets.

Use the Pension Income Splitting Optimizer to determine whether there is any tax advantage to splitting this income and which amount gives you the best bottom line.

1. From the Tools menu, select Pension Income Splitting Optimizer.
2. Make sure Yes is selected after the question "Do you and your spouse or common-law partner jointly agree to split eligible pension income received in 2008?", then click Continue. Make sure the taxpayer who is splitting his or her pension is also selected.
3. On the Pension Income Splitting Optimizer screen, click Optimize. The table shows the effect of choosing various amounts on your bottom line. Québec residents also have a table below the federal calculations showing the effect on provincial tax. QuickTax fills in the optimal amount at the bottom of the table. You can adjust this amount if you wish.
4. Click Continue when you are happy with the amount.

If decide to split pension income, the person splitting his or her pension must complete the joint election to split pension income.