Calculation of Income Withholding Tax
The Income Tax Act specifies that pension income from employer-sponsored pension plans is taxable income.
To calculate the tax amount to be withheld, ATRF uses the formula specified by Canada Revenue Agency (CRA). We also use the information from the last federal and provincial Personal Tax Credits Return (TD1) and Request for Additional Income Tax forms we have received from you, if any.
Because income tax regulations and personal circumstances vary, ATRF does not provide taxation counselling. Please contact your tax adviser or the nearest District Taxation Office of CRA to obtain any tax law interpretations.
If you need to report any changes to us, refer to “Changing Tax Information” below.
Income Tax Information Slips (T4A and NR4)
The Canada Revenue Agency (CRA) requires that all income tax information (T4A and NR4) slips are mailed by February 28 of each year. ATRF typically mails them in early February. Pension recipients who are registered for MyPension are able to view/print their income tax information slips sooner by accessing the site in early January. Pension recipients have the option to sign up for email notifications of when the slips are available if they Join Our Email List (JOEL). A hard copy will be mailed in all cases.
Prior year tax slips may also be accessed through MyPension at any time.
Changing Tax Information
Income tax is deducted from each pension payment, with the amount based on the TD1 Canada Revenue Agency Personal Tax Credit Return (or Non-Resident Tax Return) and the TD1 AB Alberta Personal Tax Credit Return submitted to ATRF with your pension election form.
TD1 (obtained from Canada Revenue Agency or ATRF) may be filed with ATRF at any time if your circumstances change; for example, if you start receiving rental income. If you would like additional tax deducted (e.g., if taxable income from other sources does not have tax deducted at source), you can make the request using the Request for Additional Income Tax form.
To change your tax information, you may send a completed tax form to:
- Alberta Teachers' Retirement Fund Board
600 Barnett House 11010 142 ST NW
Edmonton, AB T5N 2R1 Canada,
- Fax it to: (780) 453-3547, or
- Select the MyPension icon to sign in and make the change on our secure member site.