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Pension Income Splitting - New for 2007!

New for 2007 is the ability for spouses to split their RRSP, RIF, and employer-sponsored pension plans! This is a tax saving feature for pensioner couples receiving unequal income. A joint election must be filed by the couple determining how much of the pension will be transferred! An added benefit is the transferred pension will qualify for the $2000 pension deduction for the receiving spouse, making it easier to maximize this credit.