CPP-, LTD and taxes

1

Hello,

I am on Ltd and was approved cppd-d. I have dealt with the tax issue and the large cppd backpayment successfully.

Now my issue is my income looks higher than it is.

My ltd says 4,100

-1000 less cpp disability

-333 income tax

So my t4a from Canadalife shows $44,000

My t4 from cpp shows 12,000

My income.shows 56,000 but it’s really 44,000

This amount also affects my child support.

Can I ask canadalife to show on the t4a for next year my income as deducted?

Also do I have to pay taxes on 12k I don’t even see?

2

Hi, you may need to manually adjust your tax return for any year that you have been issued CPPD and already reported taxes.

You should get a tax slip for the full amount actually paid to you by CanadaLife (net of any deductions for other income like CPPD), if your LTD is taxable.

A slip for the CPPD you received including the amount that you have to pay in taxes for the CPPD.

You may also get a tax slip for any taxable benefits that you received, which will be received by you as non-cash but taxable like other income.