Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 1 Carmelina is 6 8 years old and has lived in Canada for 4 2 years. She qualifies for full Old Age Security (

11 Carmelina is 68 years old and has lived in Canada for 42 years. She qualifies for full Old Age Security (OAS) benefits but, she has no other source of income beyond government pensions. This year, Carmelina plans to live in Italy for the whole year. What statement is true?
a) She will receive the full amount of her Old Age Security and Guaranteed Income Supplement (GIS) payments.
b) Her GIS benefits will be reduced by $1 for every $2 of OAS benefits she receives.
c) Later this year, she will be subject to a suspension of GIS payments because of her absence from Canada.
d) She will not receive either OAS or GIS payments while she is absent from Canada.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Old Money New Woman How To Manage Your Money And Your Life

Authors: Byron Tully

1st Edition

1950118010, 978-1950118014

More Books

Students also viewed these Finance questions