As per the Canada Revenue Agency (CRA):
You can claim the age amount if you were 65 years of age or older on December 31, 2023, and your net income (line 23600 of your return) is less than $98,309.
If your net income was:
The CRA provides a formula in the Federal Worksheet to calculate the reduced amount as follows:
Therefore, the maximum amount you can claim under the age amount is $8,396. However, if your net income exceeds $42,335, the eligible amount will be reduced.
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