Are you a senior in Canada wondering if you qualify for the Guaranteed Income Supplement (GIS) Allowance? This guide will explain what you need to know and how to apply for this program designed to help low-income seniors in Canada.
Guaranteed Income Supplement for Seniors
The Guaranteed Income Supplement (GIS) is a monthly benefit for seniors aged 65 and over who are already getting the Old Age Security (OAS) pension. It provides extra financial support to those whose income is below a certain level, helping them manage their expenses better.
Eligibility
The Guaranteed Income Supplement (GIS) helps older Canadians with low to moderate incomes. The Canadian Government automatically figures out who qualifies and signs them up for GIS based on their yearly income.
To be eligible for GIS, you need to:
- Be 65 years old or older
- Live in Canada
- Receive Old Age Security (OAS) pension
- Have an annual income below these amounts:
- $21,456 CAD if you’re single
- $51,408 CAD if you don’t receive OAS pension
- $39,648 CAD if you have a common-law partner or spouse who receives OAS
Also, if you’re an immigrant, you need to have lived in Canada for at least 10 years after turning 18 and file your income tax return on time.
What Are GIS Allowances?
GIS allowances are payments from the federal government designed to help seniors with low incomes. These payments are based on how much money an individual makes and their Old Age Security (OAS) benefits. To receive GIS, seniors must stay in Canada because these payments are not available if they have been outside the country for over six months.
Eligibility Criteria
To qualify for GIS allowances, you need to:
- Be 65 years old or older
- Live in Canada
- Be receiving the Old Age Security (OAS) pension
- Meet the income limits:
- $21,456 CAD if you’re single
- $39,648 CAD if you have a common-law partner
- $51,408 CAD if you’re not receiving the OAS pension
- If you’re an immigrant, you must have lived in Canada for more than 10 years after turning 18
- File your income tax on time
Checking Eligibility
If you’re 65 or older, take a look at your financial situation to check if you qualify for the benefits mentioned earlier.
To be eligible, you need to apply for GIS allowances with the federal department before you turn 65. It’s also important to file your tax return on time with the Canada Revenue Agency (CRA).
How to Apply for GIS Allowances
Here’s a simple guide to help you apply for GIS allowances:
- Get the Application Form: Call the helpdesk at 1-800-277-9914 to request your form.
- Fill Out the Form: Provide your Social Insurance Number (SIN), personal details, banking info, the date you want payments to start, and any pension income details if you have them.
- Attach Required Documents: Make sure to include all necessary documents with your application.
- Submit Your Application: Send your completed application through the CRA web portal.
It’s best to apply at least a month after you turn 64. The review process usually takes 2 to 3 months, and you’ll be notified about the decision.
Once approved, you’ll begin receiving your GIS allowance on the date you requested.
In summary, the GIS allowance is an important benefit for low-income Canadian seniors. By meeting the eligibility requirements and following these steps, you can secure this financial support to enhance your retirement.
FAQs
Who can get the GIS allowance?
Seniors aged 65 and over who are already receiving Old Age Security (OAS) and have a low income.
How is the GIS allowance calculated?
It’s based on your individual income and how much OAS you receive.
What are the income limits for GIS?
For singles, it’s up to $21,456 CAD. For couples, it’s up to $39,648 CAD, and for non-OAS cases, it’s up to $51,408 CAD.
How do I apply for GIS?
Get in touch with the helpdesk, fill out the application form, and send it in with the necessary documents.
When should I apply for GIS allowance?
You should apply at least one month after you turn 64.