Did you know you were able to defer taking your Old Age Security past the age 65?  It really only makes sense if you working, and you stand to lose a large portion of your OAS to taxes.  If this is the situation you find yourself in, consider deferring the OAS until your income drops.  You can defer it up to the age 65.  Each month you defer it, you get a “bonus” for doing so.

Head over to Service Canada’s Q&A website for more details.

Filed under: Personal Tax by David Boese No Comments »

Leave a Reply

Your email address will not be published. Required fields are marked *