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Clawback of OAS

Clawbacks of the age exemption, which reduces your Canadian income taxes, start at $31,254 at a rate of 15%. If an individual over 65 earns over $64,718 a portion of the Old Age Security at a rate of 15% is taken back.

Disclaimer:

"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."

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