Question
Michelle received $6,400 in OAS pension income in 2020. Her total income for 2020 was $94,000. For 2020, the minimum income threshold is $79,054. a.
Michelle received $6,400 in OAS pension income in 2020. Her total income for 2020 was $94,000. For 2020, the minimum income threshold is $79,054.
a. What is her monthly OAS clawback? SHOW YOUR WORK.
b. What is the clawback period?
c. Assuming that her OAS payment does not increase with inflation, what is Michelles new OAS payment? SHOW YOUR WORK.
d. At what level of 2020 income would she have her entire OAS benefit clawed back?
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Digital Transformation In Accounting
Authors: Richard Busulwa, Nina Evans
1st Edition
0367362090, 9780367362096
