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Khamenei Accuses Trump of Stoking Deadly Unrest in Iran

A demonstrator holds the burning head of an effigy depicting US President Donald Trump during a protest against the US. Iran’s Supreme Leader Ayatollah Ali Khamenei has intensified his criticism of the United States, directly accusing President Donald Trump of encouraging the wave of protests that has shaken the country. The demonstrations, which began as economic grievances, quickly expanded into broader political unrest and were met with a forceful response from Iranian security forces. Khamenei framed the turmoil as part of a foreign-backed effort to destabilize the Islamic Republic, arguing that Washington — and Trump personally — sought to inflame tensions and undermine Iran’s stability. Trump had publicly expressed support for the protesters and warned Iran against harsh reprisals, comments that Tehran dismissed as interference. While Iranian leaders attribute the unrest to outside influence, many demonstrators point to long-standing domestic frustrations, including economic h...
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Understanding the OAS Clawback: Impact and Costs

 

The Old Age Security (OAS) clawback is a critical aspect of Canada’s retirement system. Let’s delve into the details:

What Is the OAS Clawback?

  • Threshold: Seniors who receive OAS payments may need to pay back a portion if their annual income exceeds a certain amount. This threshold is indexed annually and currently stands at $86,912 for 2023 (estimated to be $90,997 for 2024).

  • 15% Tax: For every taxable dollar earned above this threshold, a 15% clawback tax is applied to the OAS benefit. Essentially, seniors still receive OAS income, but it’s reduced by this withholding tax.

Who Is Affected?

  • High Earners: Previously high-income earners applying for OAS may face immediate clawbacks based on prior tax returns. The timing of pension receipt determines which year’s income is considered.

  • Specific Income Levels:

    • 65-74 Years Old: If your income exceeds $142,609, you won’t receive OAS.
    • 75 and Older: For those over 75, the threshold is $148,179.

Costs and Considerations

  • Annualized Growth: Canada’s economy surged in Q4 2023, but the OAS clawback remains a concern for retirees. Balancing growth and income thresholds is crucial.

  • Minimizing Clawback: Strategies exist to minimize the clawback. For instance, managing investment income and optimizing retirement accounts can help.

Remember, while the OAS clawback affects many, it’s essential to consult a professional for personalized advice. 


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