Question: Through a calculation (on Canadian Individual Tax Returns) known as the Old Age Security claw back, an individual receiving Old Age Security (OAS) benefits must

Through a calculation (on Canadian Individual Tax Returns) known as the “Old Age Security claw back,” an individual receiving Old Age Security (OAS) benefits must repay an increasing portion of these benefits to the federal government as the individual’s net income rises beyond a certain threshold. If the OAS claw back is 15% of net income exceeding $68,000, at what amount of net income must a taxpayer repay all $6300 of OAS benefits received in the year?

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