QROPS and Tax Return
Feb 21st 2015 | 10:02 am
#1
Thread Starter
Forum Regular
Joined: Dec 2001
Posts: 164
From: Victoria, B.C.
QROPS and Tax Return
Hi all,
I've transferred one of my pensions over from the UK and I'm struggling to see where I report it on my Canadian tax return - any ideas?
Cheers - Steve
I've transferred one of my pensions over from the UK and I'm struggling to see where I report it on my Canadian tax return - any ideas?
Cheers - Steve
Feb 21st 2015 | 10:14 am
#2
Binned by Muderators
Joined: Jul 2007
Posts: 11,708
From: White Rock BC
Re: QROPS and Tax Return
You include the amount on either line 2 or 3 of schedule 7 then take it out on line 14.
On the tax return itself the amount should be added to income on line 130 and deducted from income at line 208. If you are using commercial tax prep software the program should transfer the amounts from schedule 7 to the tax return automatically.
On the tax return itself the amount should be added to income on line 130 and deducted from income at line 208. If you are using commercial tax prep software the program should transfer the amounts from schedule 7 to the tax return automatically.
Feb 21st 2015 | 10:18 am
#3
Thread Starter
Forum Regular
Joined: Dec 2001
Posts: 164
From: Victoria, B.C.
Re: QROPS and Tax Return
That's awesome - thanks a bunch!!
