Question on retirement forms
I'm helping my Dad fill out his CPP and AOS application. I have questions on two things.
1. Pension sharing
I believe this is only good when there's a high disparity of income between the spouses and in my parents case they both make approx the same amount give or take a few thousand.
Am I correct they shouldn't do this as it doesn't benefit either?
2. Child bearing provision
I'm confused by this, both of my parents have always worked so none stayed at home. More importantly, we came to Canada when I was 12 years old. I have to clue if my parents ever got any sort of child tax benefits. I guess I'd have to ask.
We're three children born 1971,1973 and 1975.
Right now I'm leaning towards filling the section that says 'Waiver of child bearing provision' is this right?
BTW. Dad is 64 and mom 63, so I guess I'll be doing this next year for my mom too :-)
Thanks
1. Pension sharing
I believe this is only good when there's a high disparity of income between the spouses and in my parents case they both make approx the same amount give or take a few thousand.
Am I correct they shouldn't do this as it doesn't benefit either?
2. Child bearing provision
I'm confused by this, both of my parents have always worked so none stayed at home. More importantly, we came to Canada when I was 12 years old. I have to clue if my parents ever got any sort of child tax benefits. I guess I'd have to ask.
We're three children born 1971,1973 and 1975.
Right now I'm leaning towards filling the section that says 'Waiver of child bearing provision' is this right?
BTW. Dad is 64 and mom 63, so I guess I'll be doing this next year for my mom too :-)
Thanks
