Guaranteed Income Supplement (GIS): Who Qualifies and What You Get
Learn how to qualify for the Guaranteed Income Supplement (GIS) to receive additional monthly tax-free payments if you are a low-income senior.
The Guaranteed Income Supplement (GIS) is a monthly payment designed to help low-income seniors with their living costs.
Who it's for
This program is for seniors with a low income who are already receiving Old Age Security (OAS).
What you get
If you qualify, you will receive an additional monthly payment. This money is tax-free, meaning you do not pay income tax on these specific funds.
What it costs you
There is no fee to apply for this benefit. However, to keep your payments active, you must file your tax return every year.
The catch to know
The most important thing to remember is that your eligibility is tied to your tax filings. If you fail to file your taxes for a year, your GIS payments will automatically stop.
How to apply
- Ensure you are already receiving Old Age Security (OAS).
- File your annual tax return to allow the government to assess your income.
- Check the official portal for details on how your income affects your monthly amount.