Getting $1,065.48 GIS for Single, Widowed, and Divorced Seniors: A Guide to Accessing It

Updated on January 3, 2024

Explore the details on obtaining $1,065.47 GIS for Single, Widowed, and Divorced Seniors in this article. Guaranteed Income Supplements form a federal assistance program providing monthly aid to seniors. These tax-free benefits are extended by the Canadian Government to individuals aged 60 and above. Through these supplements, elderly single, widowed, and divorced individuals receive monthly assistance of $1,065.47. For more information on this financial support for senior Canadians, read further in this article.

Unlocking $1,065.47 GIS for Single, Widowed, and Divorced Seniors

The Guaranteed Income Supplement is designed to provide financial aid to low-income Canadian seniors. Unlike the universal OAS and CPP benefits in Canada, the $1,065.47 GIS is a monthly supplement benefit. These non-taxable income supplements commence their first payment after an individual turns 65.

The Federal Government of Canada disburses these supplements to assist elderly individuals in covering their living expenses and managing monthly costs. The guaranteed income supplements are distributed based on individual income and family status. In 2024, GIS benefits will be provided if you are single with a total annual income of $21,624 or less. For couples, both individuals must receive their old age service, and their combined yearly income should be $28,560 CAD or less.

Couples where one person receives OAS will receive GIS payment if their combined yearly sum is $51,840 CAD or less. Additionally, couples with one person receiving an allowance will be eligible if their combined yearly income is $39,984 CAD. The GIS amount and income thresholds are adjusted every quarter based on the consumer price index. These supplements are exclusively provided to individuals who receive an OAS pension, have an annual income below the maximum threshold, and are Canadian residents.

Single, Widowed, and Divorced Seniors earning 21,624 CAD or less annually qualify for a $1,065.47 GIS monthly payment. The GIS amount is determined by the previous year’s taxable income and the individual’s marital status. This calculation encompasses TFSA, lottery winnings, GIS, and the majority of inheritances.

In situations where an individual’s estimated income exceeds the benefits income, it could result in a lower retirement income and a reduction in pension income. Eligible seniors whose individual income is below the eligible threshold and receive their OAS payment will be entitled to a $1,065.47 GIS.

How to Acquire $1,065.47: A Guide

The distribution of Guaranteed Income Supplements is contingent on individual income and adherence to the authority’s criteria. To obtain GIS, you must submit a written application to the CRA after commencing the receipt of your Old Age Supplements. Each provider has distinct mail forms, necessitating recipients to choose and mail the application to the corresponding PO Box. For further assistance, you can contact the authorities at 1-800-277-9914.

GIS will be automatically issued upon completion of your income tax return. These benefits are exclusively available to individuals aged between 60 and 64. If you are receiving OAS and meet the eligibility criteria for GIS, the maximum income threshold for the year 2024 should be below 39,984 CAD. Once confirmed, recipients will be eligible to receive $1,065.47 GIS per month.

In the year 2024, the guaranteed income supplement will be disbursed on the following dates.

The Canada Revenue Agency facilitates these payments through direct deposit into the beneficiary’s bank account. There are two distinct rates for these supplements: some individuals receive a monthly payment of $641.35, while others will receive a benefit payment of $1,065.47 starting in the year 2024. The supplement amounts are contingent on individual income, and the federal department considers the combined income with the established threshold.