Canada Oas Clawback 2024. If you earn a higher income, discover how much your canadian old age security benefits may be reduced with this oas clawback calculator. Seniors must pay back all or a portion of their oas (line 11300 of the tax return, line 113 prior to 2019).
Essentially, the oas clawback is an additional 15% tax besides the current tax rate you are already liable to pay. The oas clawback reduces your oas pension if your net income exceeds the clawback threshold.