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Tax Planning for Seniors: Gifting Shares, OAS Clawback and minimizing Tax on your Final Return
Year-end is the last practical window to shape your 2026 tax picture. For seniors, 2026 net income also sets how much Old Age Security (OAS) you keep from July 2027 to June 2028. The 15% recovery tax ("clawback") starts at net income of $95,323 for that period (up from $93,454 for the current one). Above that, you repay 15 cents of OAS for every dollar of excess income, on top of regular income tax. Why a one-time gain hurts Selling appreciated shares in a non-registered acco
vanderco
2 days ago2 min read
Time of the year again, rrsp or tfsa???
Every January, I always get this question from several clients. Which one should I contribute? Choosing between contributing to a...
vanderco
Jan 20, 20242 min read
2023 TFSA Room is $6,500
Because of inflation - CRA has increased the room for TFSA to $6,500 for 2023. TFSA is a really great tool for your retirement. We did a...
vanderco
Dec 7, 20221 min read
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