Although retirement means you may not be getting income from employment, you may be getting other types of income, such as the Canada Pension Plan (CPP) or the Old Age Security pension (OAS). How you pay the tax you owe will depend on the type of income you receive. There are also ways that you may be able to lower or defer certain taxes.

Good starting points include:

• Changes to Your Taxes When You Retire or Turn 65 Years Old, from the Canada Revenue Agency, provides an overview of what types of income you might receive and how you pay income tax after you retire.

Need more help?

• Community organizations across BC have free tax preparation clinics run by volunteers as part of the Community Volunteer Income Tax Program (CVITP). If you have a modest income and a simple tax situation, they may be able to help you. Find a tax preparation clinic near you.

See our related common questions:

• See all common questions about pensions, benefits & welfare
• See all common questions about seniors
• See all common questions about taxes & finances

tags

income tax, income tax after retirement, retirement benefits