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Over the past several years, corporate income tax rates have decreased which has affected reporting by individual investors on their personal returns for dividend income.
Sarah is 67 and earning all her income in the lowest tax bracket. She has not yet started withdrawing money from her significant RRSP, which holds $800,000. When should she start? How much should she take into income?
When a taxpayer's income falls into a clawback zone, a portion of a social benefit like OAS or EI must be repaid.
Canadian National Railway Company v McKercher LLP and Gordon Wallace, 2013 SCC 39
Self-employed taxpayers who are receiving a CPP retirement pension must continue to contribute to CPP until they are at least 65.