Old Age Security (OAS) is subject to a clawback depending upon your income. The clawback begins when your income reaches $73,756 and you lose your OAS completely when your net income exceeds $119,615. The clawback is in effect, an extra tax. You should review your income and investments from all sources to minimize your taxes when planning your retirement income. In addition to the clawback on OAS, the Age credit of $7,125 is also subject to clawback beginning with income of $35,466 and being completely eliminated once your net income exceeds $83,427.
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