What is the income threshold for the age amount related to OAS benefits?

The income threshold for the age amount related to Old Age Security (OAS) benefits is a crucial aspect of Canada's retirement income system. For OAS, there is typically a deduction from the amount received if individual net income exceeds a certain limit.

In this case, the correct choice reflects that once an individual's income exceeds $34,000, the government may begin to reduce the amount of OAS benefits received. This threshold is designed to ensure that the benefits target those who are in greater need while minimizing payouts to higher-income individuals. Understanding this threshold helps financial planners guide their clients in retirement income planning and tax strategies, particularly in how different sources of income may affect the OAS benefits.

Other figures such as $30,000, $45,000, and $50,000 do not align with the specific income threshold governing the age amount for OAS benefits as set by the Canadian government. The actual limits and the nuances of the OAS clawback are essential for planning retirement income effectively.