OAS Clawback 2026 New Income Limits That Cut Payments скачать в хорошем качестве

OAS Clawback 2026 New Income Limits That Cut Payments

If you're receiving Old Age Security and your income is approaching the threshold where the government starts taking back part of your payment, you need to understand exactly how the OAS clawback works in 2026. The OAS recovery tax, commonly called the clawback, affects thousands of middle-income Canadian seniors every year, and many don't realize they're at risk until they see their payment suddenly drop. This video explains the current income limits, how the clawback is calculated, and what you can do to protect your OAS before it's too late. The clawback threshold changes every year because it's indexed to inflation, so the income limit that applied last year is different from the limit in 2026. If you withdrew money from your RRSP, earned employment income, received a workplace pension, or had investment income that pushed you over the threshold, you could lose part or all of your OAS starting in July. This video walks you through the official rules from the Canada Revenue Agency and Service Canada so you know exactly where you stand. What This Video Explains: • What the OAS recovery tax (clawback) is and how it works • The 2026 income threshold that triggers the clawback • How to calculate if your income puts you at risk • Which types of income count toward the threshold and which don't • Why the clawback doesn't start until months after you earn the income • How much OAS you lose for every dollar over the limit • What to check on your CRA Notice of Assessment (line 23600) Who Should Watch This Video: This video is for Canadian seniors receiving OAS who have income from multiple sources such as CPP, workplace pensions, RRSP or RRIF withdrawals, part-time work, rental income, or investment income. It's especially important if your total income is approaching ninety thousand dollars or if you're planning to make a large RRSP withdrawal, sell property, or cash out investments. Verification & Official Sources: All information in this video is based on current rules from the Canada Revenue Agency, Service Canada, and the Old Age Security Act. We strongly encourage you to verify your personal situation by checking line 23600 on your most recent CRA Notice of Assessment, logging into your My Service Canada Account to see if the OAS recovery tax is being deducted, or calling Service Canada at 1-800-277-9914 for details about your specific case. Join the Conversation: Are you currently affected by the OAS clawback, or are you worried your income might trigger it? Have you found ways to reduce your taxable income to stay below the threshold, or did the clawback come as a surprise? Share your experience in the comments below. Your insights could help other Canadian seniors plan ahead. If this video helped you understand how the OAS clawback works and what you can do about it, please subscribe to Retire Path Canada for weekly videos on CPP, OAS, GIS, and other Canadian retirement benefits. We explain government rules in plain language with no financial sales pitches—just honest, clear information you can trust. Chapters: 0:00 Introduction – Understanding the OAS Clawback 2:45 What the OAS Recovery Tax Actually Is 5:30 The 2026 Income Threshold Explained 9:15 How the Clawback Calculation Works 13:40 Real-Life Example: How Much You Lose 17:20 Timing and When the Clawback Starts 21:10 What Income Counts and What Doesn't 24:45 How to Check If You're Affected 27:30 Common Mistakes Seniors Make 31:15 Strategies to Reduce the Clawback 34:50 What Happens If You're Over the Full Clawback Threshold 37:20 Summary and Action Steps #OAS #OASClawback #OldAgeSecurity #CanadaPension #CPP #ServiceCanada #OASRecoveryTax #CanadianSeniors #RetirementCanada #CRA #CanadaRevenue #OAS2026 #RRSPWithdrawal #PensionIncome #SeniorBenefits #RetirePathCanada #CanadianRetirement #TaxPlanning