Every year Marie is concerned about having to repay the Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that if her income is over a certain amount, that she has to repay a large lump sum back through her tax return. In 2020, the OAS clawback or repayment calculation is based on the difference between Maries net income and the threshold amount for the year. If her income is over the threshold amount, then she must repay 15% of that amount. Maries monthly OAS pension is $613.54 for 2020 and her net income is $105,000.

a) Determine if Marie will have to repay her OAS and if so, calculate the amount that Marie will get to keep. (2 marks) Maries calculation: (2 marks)

Minimum Income Recovery Threshold Maximum Income Recovery Threshold 2020 $79,054 $128.137