Retirees: 3 Ways to Avoid the Painful 15% OAS Clawback

By  External Author |   | Posted in " Corporate tax return services, Payroll services "

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.

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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