A Statement of Pension, Retirement, Annuity, and Other Income, issued by an employer, trustee, pension administrator, or company director that records certain types of income paid during a tax year and the amount of income tax that was deducted.
Because we provide a thorough tax service, we also feel it is part of our responsibility to let Canadians know a bit more about the government pensions they can expect to get as they grow older.
The Old Age Security (OAS) has a few requirements we thought you should know about. A Canadian T4A(OAS) tax slip is required so the government knows how much of this old age security you received. Eligibility for this pension is based on two different criteria, your age and the number of years you’ve lived in Canada.
We understand how important it is to have all the proper documentation ready to go when you file your taxes. Why not take a few moments to look through the Tax Education part of our website so you can have a better idea how to prevent audits and what rights you have as a taxpayer?
If you’re like most Canadians, you’ll want to make sure you start getting OAS payments on time. That means you should apply using the correct forms from Service Canada at least six months before your 65th birthday. Remember, your OAS is taxable and as such you’ll be accountable, but we’re here to look after your rights and we’re not intimidated by the CRA.