Michelle and her husband, Johnson are multi-millionaires; both have always lived in Quebec. Michelle has never worked and has no income to declare on her tax returns except the Old Age Security (OAS) pension that she receives. Her husband is the business owner of a large construction company. He has always worked and continues to work even though they are both 65 years old. a) Determine if Michelle has to repay her OAS. Note: The OAS clawback or repayment calculation is based on the difference between Michelle's net income and the threshold amount for the year. If her income is over the minimum threshold amount, then she must repay 15% of that amount. Michelle's monthly OAS pension is $613.54 for 2020. Minimum Income Recovery Threshold Maximum Income Recovery Threshold 2020 $79,054 $128,137 Highlight and underline your response (.5 marks) Yes, Michelle must repay the full or a partial amount of her OAS pension that she received. Or No, Michelle does not have to repay any amount back of her OAS pension that she received. b) Calculate the amount that Michelle gets to keep or must repay depending on your response in a). (.5 marks) Michelle's calculation: (.5 marks) Michelle and her husband, Johnson are multi-millionaires; both have always lived in Quebec. Michelle has never worked and has no income to declare on her tax returns except the Old Age Security (OAS) pension that she receives. Her husband is the business owner of a large construction company. He has always worked and continues to work even though they are both 65 years old. a) Determine if Michelle has to repay her OAS. Note: The OAS clawback or repayment calculation is based on the difference between Michelle's net income and the threshold amount for the year. If her income is over the minimum threshold amount, then she must repay 15% of that amount. Michelle's monthly OAS pension is $613.54 for 2020. Minimum Income Recovery Threshold Maximum Income Recovery Threshold 2020 $79,054 $128,137 Highlight and underline your response (.5 marks) Yes, Michelle must repay the full or a partial amount of her OAS pension that she received. Or No, Michelle does not have to repay any amount back of her OAS pension that she received. b) Calculate the amount that Michelle gets to keep or must repay depending on your response in a). (.5 marks) Michelle's calculation: (.5 marks)