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Changing the Amount Deducted

Can I pay more tax during the year to avoid a big payment at tax time?

You can increase the tax deducted from your pension, to reduce the amount owing at filing time.

You can make this change on your own by signing in to your Ontario Teachers' account.

I'm receiving a large refund from the government. Can you deduct less tax from my pension?

If you receive a large refund, we may be deducting too much tax. We can reduce the amount deducted if you qualify to claim additional, eligible tax credits. Eligible tax credits could apply if you become disabled, turn age 65, support certain dependents or go back to school.

To claim the tax credits, complete the federal TD1 and the TD1 from your province of residence.

You also can ask the Canada Revenue Agency (CRA) for permission to reduce the income tax withheld from your pension for deductions and tax credits that cannot be claimed on the TD1. Such deductions could include large charitable donations, support payments required under a divorce or separation agreement, child care expenses, and allowable RRSP contributions (perhaps carried forward from your working years).

To request a reduction, complete Request to Reduce Tax Deductions at Source (Form T1213). If CRA approves your request, provide us with a copy of its written authorization to deduct less tax.