Old Age Security Act — O-9 (a)
income of a person for a calendar year means the person’s income for the year, computed in accordance with the Income Tax Act , except that (a) there shall be deducted from the person’s income from office or employment for the year (i) a single amount in respect of all offices and employments of that person equal to (A) for the purpose of determining benefits payable in respect of any month before July 2008, the lesser of $500 and one fifth of the person’s income from office or employment for the year, or (B) for the purpose of determining benefits payable in respect of any month after June 2008 but before July 2020, the lesser of $3,500 and the person’s income from office or employment for the year, (ii) the amount of employee’s premiums paid by the person during the year under the Employment Insurance Act , and (iii) the amount of employee’s contributions made by the person during the year under the Canada Pension Plan or a provincial pension plan as defined in section 3 of that Act, (b) there shall be deducted from the person’s self-employment earnings for the year (i) the amount of contributions made in respect of those self-employed earnings by the person during the year under the Canada Pension Plan or a provincial pension plan as defined in section 3 of that Act, and (ii) the amount of premium paid by the person during the year under Part VII.1 of the Employment Insurance Act , (b.1) for the purpose of determining benefits payable in respect of any month after June 2020, there shall be deducted from a person’s combined amount — which is equal to the aggregate of the person’s income from office or employment for the year, as reduced in accordance with paragraph (a), and the person’s self-employment earnings for the year, as reduced in accordance with paragraph (b), if those reduced self-employment earnings are greater than zero — an amount that is equal to the aggregate of (i) the lesser of $5,000 and the combined amount, and (ii) if the combined amount is greater than $5,000, the lesser of $5,000 and half of the amount by which the combined amount exceeds $5,000, (c) there shall be deducted from the person’s income for the year, to the extent that those amounts have been included in computing that income, (i) the amount of any benefit under this Act and any similar payment under a law of a provincial legislature, (i.1) the amount of the payment under the program referred to in section 275 of the Budget Implementation Act, 2021, No. 1 , (ii) the amount of any death benefit under the Canada Pension Plan or a provincial pension plan as defined in section 3 of that Act, and (iii) the amount of any social assistance payment made on the basis of a means, a needs or an income test by a registered charity as defined in subsection 248(1) of the Income Tax Act or under a program provided for by an Act of Parliament or a provincial legislature that is neither a program prescribed under the Income Tax Act nor a program under which the amounts referred to in subparagraph (i) are paid, (c.1) for the purpose of determining benefits payable in respect of any month after June 2022, there shall be deducted from the person’s income for the year the amount of any payment under (i) the Canada Emergency Response Benefit Act , (ii) Part VIII.4 of the Employment Insurance Act , (iii) the Canada Recovery Benefits Act , and (iv) the Canada Worker Lockdown Benefit Act , (d) there shall be deducted from the person’s income for the year three times the amount, if any, by which (i) the total of any amounts that may be deducted under section 121 of the Income Tax Act in computing the person’s tax payable for the year exceeds (ii) the person’s “tax for the year otherwise payable under this Part” (within the meaning assigned by subsection 126(7) of the Income Tax Act for the purposes of paragraph 126(1)(b) of that Act) for the year, and (e) there shall be deducted from the person’s income for the year any amount included under paragraph 56(1)(q.1) or s