JohnB5677
Expert Alumni

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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