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Retirement tax questions
- If you receive a pension from the United States, you must include it in your Canadian tax return.
- Due to the tax treaty between the two countries, you can deduct any U.S. taxes paid on your pension, as well as 15 percent of any U.S. Social Security benefits.
- If you have been receiving U.S. Social Security benefits continuously since 1995, or if you are receiving death benefits for a spouse, you may be eligible for a 50 percent deduction.
- Canadian residents pay taxes on these benefits only to Canada.
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March 19, 2020
5:38 PM