Understanding The OAS Clawback

There is nothing that seems to rile seniors more than the OAS clawback. I sympathize with those who watched their spending, maximized their savings and RRSPs, and now find that they are being penalized for doing all the right things. CRA has also made the rules complicated and convoluted, resulting in a lack of understanding of the clawback and its impact on after-tax income.   Let’s walk through the tax effects on 75-year-old Mr. Variable who sold a rental property in 2013...