Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Marnie has income from a company pension plan of $71,300. But she also has income from CPP ($12,400) and also qualifies for the full 2021
Marnie has income from a company pension plan of $71,300. But she also has income from CPP ($12,400) and also qualifies for the full 2021 OAS benefit ($7,421.40). Even better, she receives interest income of $18,800 a year from an investment account. But, if the 2021 OAS threshold income amount is $79,054 and Marnie is subject to the OAS "claw-back", how much money will Marnie receive as an OAS benefit after subtracting the "claw-back" amount? $2,791.29 $3,854.5 $4,630.11 \$0 (Marnie's income would result in a full "clawback" and she would not receive any OAS benefit)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started