29 April 2020 External T.I. 2020-0845211E5 - Pension income splitting -- summary under Subsection 60.03(2)

In order to reduce the fees (based on net income for ITA purposes) incurred by the lower-income spouse at a retirement home, can that spouse transfer 1/2 of their eligible pension income to the higher-income spouse? CRA responded:

The pension income splitting rules are typically used by couples to allocate pension income from the higher-income individual to the lower-income individual so as to reduce their total combined income tax payable. However, there is nothing in these rules that would prevent allocating pension income in the opposite direction (that is, from the lower-income individual to the higher-income individual).

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