Q. I am 71 years old and my spouse Ella is 70. Ella’s total pension income is about $21,000 a year from Canada Pension Plan (CPP), Old Age Security (OAS) and a small private pension, with a ...
You pay taxes even after retirement. Hence, tax planning is a part and parcel of your retirement planning, as most pension income is taxable. Speaking of tax planning, the Canada Revenue Agency (CRA) ...