Through a Calculation (On Canadian Individual Tax Returns) Known as the "Old

question 252

Short Answer

Through a calculation (on Canadian Individual Tax Returns) known as the "Old Age Security clawback," an individual receiving Old Age Security (OAS) benefits must repay an increasing proportion of these benefits to the federal government as the individual's net income rises beyond a certain threshold. If the OAS clawback is 15% of net income exceeding $64,000, at what amount of net income must a taxpayer repay all $5,900 of OAS benefits received in the year?

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Definitions:

Public Prosecutor

An attorney appointed or elected to represent the state in criminal proceedings against persons accused of committing crimes.

Prosecuting Attorney

A legal officer who represents the government in criminal proceedings, charging and trying cases against individuals accused of crimes.

County Attorney

A public official who provides legal advice and representation to the county government and prosecutes criminal cases at the county level.

Criminal Law

The body of law that relates to crime, prescribing conduct perceived as threatening, harmful, or otherwise endangering to the property, health, safety, and moral welfare of people.