Question
Ellen received old-age security (OAS) payments during the current year totalling $6,200. Her net income for the current year is $85,000. No amount was withheld
Ellen received old-age security (OAS) payments during the current year totalling $6,200. Her net income for the current year is $85,000. No amount was withheld from the OAS payments as her income was lower in previous years. Determine Ellens OAS repayment (Part I.2 tax) for the current year. Income tax reference: ITA 60(w), 180.2.
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Management Accounting
Authors: John Burns, Martin Quinn, Liz Warren, João Oliveira
1st Edition
0077121619, 978-0077121617
