Question
P received Old-age security pension (OAS) payments totaling $7,300 in the current year. No tax was withheld. Ps net income for the current year is
P received Old-age security pension (OAS) payments totaling $7,300 in the current year. No tax was withheld. P’s net income for the current year is $90,000 before adjusting for any OAS repayment. What is the amount of the OAS repayment (Part 1.2 tax) for the current year?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
