With regard to the Old Age Security Clawback, which of the following is incorrect?\ A. Old Age Security benefits received in the year are included in the computation of net income, which is why the repayment of Old Age Security benefits are included as a deduction under 3(c) in the calculation of net income.\ B. Old Age Security Clawback refers to the portion of Old Age Security benefits which must be repaid to the federal government when the taxpayer's net income exceeds a certain threshold.\ C. The Old Age Security Clawback is described in ITA 180.2(2), which is located in Part 1 of the Act, which is why the repayment of Old Age Security benefits are included as a deduction in the calculation of Part 1 taxes payable.\ D. The Old Age Security Clawback is calculated as the lesser of the Old Age Security payments received and

15%

of the taxpayer's net income in excess of a set threshold amount.

With regard to the Old Age Security Clawback, which of the following is incorrect? A. Old Age Security benefits received in the year are included in the computation of net income, which is why the repayment of Old Age Security benefits are included as a deduction under 3(c) in the calculation of net income. B. Old Age Security Clawback refers to the portion of Old Age Security benefits which must be repaid to the federal government when the taxpayer's net income exceeds a certain threshold. C. The Old Age Security Clawback is described in ITA 180.2(2), which is located in Part 1 of the Act, which is why the repayment of Old Age Security benefits are included as a deduction in the calculation of Part 1 taxes payable. D. The Old Age Security Clawback is calculated as the Iesser of the Old Age Security payments received and 15% of the taxpayer's net income in excess of a set threshold amount