Question: Mini - Case D: ( 1 . 5 marks ) Nadia is the Chief Operating Officer ( COO ) of a family business she inherited

Mini-Case D: (1.5 marks) Nadia is the Chief Operating Officer (COO) of a family business she inherited from her mother, who passed away five years ago. She is married to Alex, who recently turned 65. They have always lived in Montreal. Alex was a full-time homemaker, raising their two children, who are now adults. Having never participated in the workforce, Alex has chosen to continue staying at home to care for their two grandchildren, aged 2 and 4. Nadia will join Alex in caring for their grandchildren tomorrow when she turns 65, after handing over the reins of the family business to her younger brother and officially retiring. (1.5 marks) Both Nadia and Alex are looking to you for the following answers to their questions. a) Neither Nadia nor Alex have ever contributed to their Tax-Free Savings Account (TFSA), they are eligible to contribute as of today, April 3,2025. Highlight AND underline your response True or False (.20 marks) b) Neither Nadia nor Alex have ever contributed to their Registered Retirement Savings Account (RRSP), they are eligible to contribute as of today, April 3,2025. Highlight AND underline your response True or False (.20 marks) c) At age 65, both Nadia and Alex are eligible for the Quebec Pension Plan (QPP). Highlight AND underline your response True or False (.20 marks) d) At age 65, Alex is eligible for Old Age Security (OAS). Highlight AND underline your response True or False (.20 marks) e) Nadia believes that her Old Age Security (OAS) pension will be subject to clawback. She is trying to understand what this means. The maximum gross annual OAS pension in 2025 is $8,732. Nadias net income for 2025 will be $105,000(which includes her OAS pension). The clawback starts at the minimum threshold of $93,454 to the maximum threshold of $151,668. How much will Nadia keep of her OAS when the clawback rate is 15%?(.70 marks) Nadias OAS calculation: (.70 marks)

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