Anya is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that the OAS clawback or her repayment would be 15% of the difference between her net income of $93,000 and the minimum threshold amount of $79,845. She currently receives an annual OAS pension of $7,512 and is wondering how much of her OAS pension she will get to keep? Ignore taxes. Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,845 $129.260 A $2,576 В $5,539 $4,582 D $1,973 $4,232

Anya is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that the OAS clawback or her repayment would be 15% of the difference between her net income of $93,000 and the minimum threshold amount of $79,845. She currently receives an annual OAS pension of $7,512 and is wondering how much of her OAS pension she will get to keep? Ignore taxes. Minimum Income Recovery Threshold Maximum Income Recovery Threshold $79,845 $129.260 A $2,576 В $5,539 $4,582 D $1,973 $4,232

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Jing is concerned about having to repay her Old Age Security (OAS) pension that she receives. This is very stressful as she is on a very limited budget. She knows that if her income is over the minimum threshold amount, that she must repay 15% of this different through her tax return due to the OAS clawback. The maximum monthly OAS pension in 2021 is $635.26. Jing’s net income is estimated at $75,000 for the year. Jing turned 65 years old on January 1, 2021 and has been living in Canada for 25 years. She knows that the amount she will receive is a partial monthly pension earned at the rate of 1/40th of the maximum monthly OAS pension for each year of residence in Canada after the age of 18.

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