Retirement income

Enter annual amounts in the same buckets as the CRA personal return (OAS, CPP/QPP, RRIF, RRSP, pensions). The engine estimates federal and provincial income tax, the pension income amount (line 31400 / provincial line 58360), and OAS recovery tax using published Service Canada thresholds. This is not a full T1.

Where you're taxed

Pick your country and province or territory. Canada uses the retirement engine below; U.S. states are listed for later (same pattern as the employment calculator).

Country

Province / state

Tax year

Age & OAS recovery band

Age at end of tax year

Drives CRA line 31400 eligibility (65+ vs under-65 charts).

OAS recovery table column

Ages 65–74Age 75 and older

Service Canada maximum recovery threshold differs by band.

Income (annual, CAD)

Old Age Security (OAS) — line 11300

Enter gross pension from your slip before recovery tax; repayment is estimated separately.

CPP or QPP benefits — line 11400

Taxable benefits — not eligible for the pension income amount (line 31400).

Other pensions & superannuation — line 11500

RPP, annuities, PRPP, etc. Exclude RRIF amounts you enter in the next field.

RRIF withdrawals — line 11500 (T4RIF)

RRSP withdrawals — line 12900

Elected split-pension — line 11600

Foreign pension (taxable in Canada)

Treaty-exempt amounts should be excluded — this field is fully taxable here.

Other taxable income

Interest, taxable dividends, net rental, etc.

Part-time / bridge employment (T4)

CPP/QPP, EI, and QPIP apply to this slice only (annual harmonized model).

Estimated net (after modelled tax & items)

+$28,805

Green + = cash or income in. Red ( ) = cash out. Blue = pension income amount (Schedule 1 line 31400 / Form 428 line 58360): not cash income; lowers tax and is already inside income tax above.

Total income (entered)Inflow: +$32,000
Income tax (total)Outflow: ($3,195)
Line 31400 — Pension income amount (federal)Pension income amountCRA Schedule 1: not added to income; used to calculate your federal non-refundable credit (already reflected in income tax above).: $2,000
Line 58360 — Pension income amount (provincial · ON)Pension income amountCRA Form 428: not added to income; used for the matching provincial non-refundable credit (already reflected in income tax above).: $1,762

CRA references

Breakdown

Green + = inflow, red ( ) = outflow, blue = pension income amount (lines 31400 / 58360 — not cash; already inside tax).

Total entered income (all sources, OAS gross)Inflow
CRA reporting overview: pension & savings plans income — canada.ca (search “Pension and savings plans income”)
+$32,000
Old Age Security (OAS) pension — entered grossInflow
+$0
CPP or QPP benefits (line 11400 style)Inflow
+$12,000
Other pensions & superannuation (line 11500 style, excl. RRIF you list separately)Inflow
+$0
RRIF withdrawals (line 11500 / T4RIF)Inflow
+$20,000
RRSP withdrawals (line 12900)Inflow
+$0
Elected split-pension (line 11600)Inflow
+$0
Foreign pension (taxable in Canada)Inflow
+$0
Other taxable incomeInflow
+$0
Line 31400 — Pension income amount (federal Schedule 1)Pension income amount
CRA “pension income amount” for the federal non-refundable credit. Eligible raw 20000; cap 2000 for 2025. Not taxable income — multiplied by the lowest federal rate; effect is already inside “Federal income tax” below.
$2,000
Line 58360 — Pension income amount (Form 428 · ON)Pension income amount
Provincial companion to line 31400; lesser of 1762 and your federal pension income amount (CRA). Not cash income — effect is already inside provincial tax below.
$1,762
Federal income tax (after abatement & credits)Outflow
($2,011)
Provincial / territorial income tax (after credits, incl. surtax/health where modelled)Outflow
($1,183)
Total income tax (federal + provincial − NT/NU refundable COL credits)Outflow
($3,195)
Estimated net after income tax & listed payroll itemsNet
+$28,805

Federal income tax

Progressive federal brackets on estimated taxable income (after CPP/QPP enhanced deduction on employment only and OAS recovery proxy).

Taxable income for these bands: $32,000

How income fills each bracket

$0 – $57,375 · marginal 14.5%$32,000 · $4,640 at this margin
Part of this bracket is used; lower bands were filled first.

Provincial / territorial income tax

Provincial or territorial brackets on the same basis as the employment calculator for your region.

Taxable income for these bands: $32,000

How income fills each bracket

$0 – $52,886 · marginal 5.1%$32,000 · $1,616 at this margin
Part of this bracket is used; lower bands were filled first.