Elle Klein received old-age security (OAS) payments during 2022 totalling $8,000. Her net income for the year

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Elle Klein received old-age security (OAS) payments during 2022 totalling $8,000. Her net income for the year is $85,000. No amount was withheld from the OAS payments as her income was lower in previous years.

Determine Elle’s OAS recovery tax (Part I.2 tax) for 2022.

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Canadian Income Taxation 2022/2023

ISBN: 9781260881202

25th Edition

Authors: William Buckwold, Joan Kitunen, Matthew Roman

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Question Posted: Apr 06, 2023 04:26 AM

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Elle Klein received old-age security (OAS) payments during 2022 totalling $8,000. Her net income for the year

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Pensioners with net income above 817612022 must repay part or all of the OAS pension The r...View the full answer

Canadian Income Taxation 2022/2023

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