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Harry just turned 6 5 and is on a very limited budget. He is concerned about having to repay his Old Age Security ( OAS
Harry just turned and is on a very limited budget. He is concerned about having to repay his Old Age Security OAS pension under the clawback provisions. If so he would not have the money to repay as he has no savings. The stress is too much for him and he has reached out to you for your help in running through the OAS pension recovery tax calculation.
You know that for the OAS clawback or repayment is calculated as of the amount by which net income exceeds the yearly minimum income threshold up to the point that OAS is fully recovered at the level of the maximum income threshold. In Harry's net income is $ which includes his OAS monthly pension of $ How much OAS pension if any would Harry get to keep? Ignore taxes.
For :
Minimum Income Recovery Threshold: $
Maximum Income Recovery Threshold: $
Select one:
a
$
b
$
c
$
d
$
e
$
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