The Guaranteed Income Supplement (GIS) allows low-income seniors to get basic financial support in Canada, from January 2025; senior citizens can benefit from up to $1,700 GIS, provided they are eligible. Indeed, the newly increased payments will further relieve expenses caused by the lack of funds. The following will help you understand the revised GIS amount, relevant criteria, and payment date in January 2025 for the supplement.
GIS Program Description
GIS Monthly benefit to low-income seniors who have already qualified for old-age security(OAS). As a top-up amount for the OAS payment, it is to ensure that seniors use it primarily to meet the cost of basic living requirements. The amount of this supplement varies with income and marital status to ensure that it reaches the neediest.
January 2025 GIS Payment Increase
The GIS advantage would have increased further in January 2025, under which qualified persons would receive up to $1,700 monthly. The amount for which a person is qualifying depends upon the following considerations:
- Annual Income: The lower the income of those older than sixty years, the more benefits they will receive.
- Marital status: Eligibility thresholds and payment amounts are different for single, married, or common-law seniors.
- OAS clawback: Seniors with higher incomes may experience a reduction of their OAS and GIS benefits.
January 2025 Payment Date
Now, published on January 4, 2025, will be the first GIS payment of 2025. Those seniors who have registered on direct deposit will find that their payments magically transfer to accounts in financial institutions. Meanwhile, seniors who receive paper cheques need to be patient, as their payments would take some extra time to arrive.
Eligibility Criteria For The GIS Benefit
In order to qualify for GIS payments, you must meet the following criteria:
01. Age Condition, Qualification Or Residency Requirement
- Over 65 years of age.
- Already getting payments for Old Age Security.
- Must be a resident of Canada.
02. Income Levels
- Single: Seniors with an income of less than $20,208 per annum (not including OAS payments).
- Couple: Couples with an income of less than $26,688 per year (both getting OAS).
- Couples: Under certain conditions, couples where one partner receives no OAS have a higher limit.
How To Apply For GIS
The new payment amounts will roll out automatically to seniors whose names are on the roll of GIS. In case you are newly eligible, here’s what to do to apply:
- Log onto your My Service Canada Account (MSCA).
- Fill out the application form for GIS.
- Submit as proof of income (tax return) and residency documents.
- Wait for confirmation of your eligibility status.
Check Your GIS Payment Status
You can actually watch your payments under your GIS here:
- Sign in into your My Service Canada Account.
- Go to Benefits and Payments; see under here for your payment details.
- Call Service Canada at 1-800-277-9914 for updates.
Major Reminders
- File Taxes: The submission of your annual income tax return is a crucial part of the eligibility for GIS.
- Update Info: It is important to notify Service Canada about changes in income, martial status, or your address.
- Opt for Direct Deposit: It makes sure you get timely payments and is safer.
Also Read: OAS Increase 2025: Are You Eligible For The $1,000 + $946 Boost?