Self-employed

Hello, we appreciate your question. The federal age amount is calculated with consideration of your net income (CRA23600). The maximum federal age amount is $7,898 for the 2022 calendar year. The respective credit is clawed back if your income exceeds this year's threshold of $39,826. Please review the age amount reconciliation, it is reported on the other credits worksheet or T1WS, depending on the platform you are filing on.