This method will not allow you to continue to age your credit accounts and could increase your utilization, both of which could end up hurting your credit score. (uponarriving.com)
As well, you will see some of your federal Age Credit clawed back starting at about $ 33,000. (moneysense.ca)
Notes: Income up to $ 19,982 is shielded from federal taxes by the basic personal credit ($ 11,038), age credit for being 65 + ($ 6,854), and the maximum pension income credit ($ 2,000 from an employer pension, or if you're 65 or older, from a RRIF or registered annuity). (moneysense.ca)