Old Age Security Act — O-9 2
loyment 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 subsection 56(6) of the Income Tax Act and there shall be included in the person’s income for the year any amount that may be deducted under paragraph 60(y) or (z) of that Act; ( revenu ) Minister means the Minister of Employment and Social Development; ( ministre ) payment period , in relation to a month, means (a) the fiscal year that includes the month, where the month is before April, 1998, (b) the period that begins on April 1, 1998 and ends on June 30, 1999, where that period includes the month, and (c) the period after June 30, 1999 that begins on July 1 of one year and ends on June 30 of the next year, where that period includes the month; ( période de paiement ) payment quarter means a period of three months commencing on the first day of April, July, October or January in a payment period; ( trimestre de paiement ) pension means a monthly pension authorized to be paid under Part I; ( pension ) pensioner means a person whose application for a pension has been approved; ( pensionné ) prescribed means prescribed by the regulations; ( Version anglaise seulement ) release , in relation to a person who has been incarcerated, means release from custody on earned remission, at the expiry of a sentence, or on parole or statutory release that has not been terminated or revoked. ( libération ) Review Tribunal [Repealed, 2012, c. 19, s. 235] second adjustment quarter , in relation to a payment quarter, means, (a) if the payment quarter commences on the first day of April in a payment period, the period of three months commencing on the first day of August immediately before that first day of April, (b) if the