Certified Financial Planner (CFP) Practice Exam · Question
Which of the following scenarios would most likely trigger an OAS clawback for a single individual in 2024?
The OAS clawback threshold for 2024 is approximately $90,997 (it's indexed annually). Any net income exceeding this threshold will result in a repayment of 15 c
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Question: Which of the following scenarios would most likely trigger an OAS clawback for a single individual in 2024?
Answer options:
- A net income of $75,000
- A net income of $80,000, primarily from government pensions ✅ A net income of $95,000, including significant investment income
- A net income of $65,000, with a large tax refund
Correct answer: A net income of $95,000, including significant investment income
Explanation: The OAS clawback threshold for 2024 is approximately $90,997 (it's indexed annually). Any net income exceeding this threshold will result in a repayment of 15 cents for every dollar over the threshold. A net income of $95,000 exceeds this threshold, thus triggering a clawback.
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