Carmelina is 68 years old and has lived in Canada for 42 years. She qualifies for full Old Age Security (OAS) benefits but, she has no other source of income beyond government pensions. This year, Carmelina plans to live in Italy for the whole year. What statement is true? Oa) She will receive the full amount of her Old Age Security and Guaranteed Income Supplement (GIS) payments. b) Her GIS benefits will be reduced by $1 for every $2 of OAS benefits she receives. c) Later this year, she will be subject to a suspension of GIS payments because of her absence from Canada. Od) She will not receive either OAS or GIS payments while she is absent from Canada.
Carmelina is 68 years old and has lived in Canada for 42 years. She qualifies for full Old Age Security (OAS) benefits but, she has no other source of income beyond government pensions. This year, Carmelina plans to live in Italy for the whole year. What statement is true? Oa) She will receive the full amount of her Old Age Security and Guaranteed Income Supplement (GIS) payments. b) Her GIS benefits will be reduced by $1 for every $2 of OAS benefits she receives. c) Later this year, she will be subject to a suspension of GIS payments because of her absence from Canada. Od) She will not receive either OAS or GIS payments while she is absent from Canada.
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 57P: Charles E. Bennett, age 64, will retire next year and is trying to decide whether to begin...
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Carmelina is 68 years old and has lived in Canada for 42 years. She qualifies for full Old Age Security (OAS) benefits but, she has no other source of income beyond government pensions. This year, Carmelina plans to live in Italy for the whole year. What statement is true?
Oa) She will receive the full amount of her Old Age Security and Guaranteed Income Supplement (GIS) payments.
b) Her GIS benefits will be reduced by $1 for every $2 of OAS benefits she receives.
c) Later this year, she will be subject to a suspension of GIS payments because of her absence from Canada.
Od) She will not receive either OAS or GIS payments while she is absent from Canada.
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