Although the money you receive from your Old Age Security (OAS) pension comes from the government, it is considered taxable income and is taxed at your usual income tax rate. When you file your income tax return, you only have to take into account your OAS pension amounts, not any supplemental OAS benefits you may receive. Keep in mind that if your income exceeds a certain threshold ($79,054 for 2020), you may have to repay some or all of your OAS pension.
For more information, please refer to the following TurboTax link below:
Yes, they are considered income. You should have received slips for them. You would just need to enter those slips:
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Although the money you receive from your Old Age Security (OAS) pension comes from the government, it is considered taxable income and is taxed at your usual income tax rate. When you file your income tax return, you only have to take into account your OAS pension amounts, not any supplemental OAS benefits you may receive. Keep in mind that if your income exceeds a certain threshold ($79,054 for 2020), you may have to repay some or all of your OAS pension.
For more information, please refer to the following TurboTax link below:
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