Pension Income Splitting is one of the most advantageous new tax measures introduced for seniors in recent years. It became effective for the 2007 taxation year.

Taxpayers with income from a registered pension plan, or those with RRIF income if 65 or over, who have a spouse with lower income, should consider whether Pension Income Splitting is advantageous before completing their tax returns.

Further information is provided in the article to the left, from ScotiaMcLeod.