Canadian individual tax returns

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Reference no: EM133042214

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 portion of these benefits to the federal government the individual's net income rises beyond a certain threshold. If the OAS clawback is 15% of net income exceeding $ 72,809, at what amount of net incone must a taxpayer repay all $ 6839 of OAS benefits received in the year?

Reference no: EM133042214

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