Retirees: 3 Ways to Avoid the Painful 15% OAS Clawback
Canadian retirees will lock horns again with the Canada Revenue Agency (CRA) over the recovery tax in the 2021 tax season. Those who’ll be subject to the 15% Old Age Security (OAS) clawback for the first time should know that it’s a yearly battle. This tax that retirees dread the most is a thorn because it can reduce pension benefits or zero it out altogether.
Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/
Article Written By: Christopher Liew, CFA
Original Article Posted on: April 10, 2021
Link to Original Article: https://ca.finance.yahoo.com/news/retirees-3-ways-avoid-painful-132730795.html