GIS Direct Deposit 2024: The Truth About the $1,800/Month Claim

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Key Takeaway Box:

  • The Guaranteed Income Supplement (GIS) is a monthly benefit for low-income seniors who receive the Old Age Security (OAS) pension in Canada.
  • There is no official announcement or evidence that the GIS amount will increase to $1,800/month in 2024 or any other year.
  • The GIS amount depends on your income, marital status, and residency. The maximum monthly GIS amount for a single senior is $1,065.47 as of January 2024.
  • To receive the GIS, you must apply for it and meet the eligibility criteria. You must also file your taxes every year and report any changes in your income or situation.
  • The GIS payment dates for 2024 are the same as the OAS payment dates, which are usually at the end of each month. You can receive your payment by direct deposit or cheque.
Senior citizen researching GIS Direct Deposit 2024, questioning $1,800/month claim, with financial planning tools in background.
Empowered Inquiry: Senior Explores the Reality of $1,800/Month GIS Claim for 2024.

You may have seen some social media posts or videos claiming that the Canadian government is giving out $1,800/month to seniors who qualify for the Guaranteed Income Supplement (GIS). But is this true? And if so, how can you get this money?

In this article, we will explain what the GIS is, who is eligible for it, how much it pays, and how to apply for it. We will also fact-check the claim that the GIS amount will increase to $1,800/month in 2024 and provide you with the official GIS payment dates for 2024.

What is the Guaranteed Income Supplement (GIS)?

The Guaranteed Income Supplement (GIS) is a monthly benefit that provides extra income to low-income seniors who receive the Old Age Security (OAS) pension in Canada. The GIS is not taxable and is paid by the federal government.

The GIS amount is based on your income, marital status, and residency. The GIS is adjusted every three months (January, April, July, and October) to reflect changes in the cost of living.

The GIS is one of several benefits available to seniors in Canada, along with the OAS pension, the Canada Pension Plan (CPP), the Allowance, and the Allowance for the Survivor.

Who is eligible for the GIS?

To be eligible for the GIS, you must:

  • be 65 years of age or older
  • live in Canada
  • receive the OAS pension
  • have an income below a certain threshold

The income threshold for the GIS depends on your marital status and whether your spouse or common-law partner receives the OAS pension, the Allowance, or neither. The income threshold is updated every year and is based on your income from the previous year.

For example, as of January 2024, the income threshold for a single, widowed, or divorced senior is $21,624. This means that if your income in 2023 was less than or equal to $21,624, you may qualify for the GIS in 2024.

The income threshold for a senior who has a spouse or common-law partner who receives the full OAS pension is $28,560. The income threshold for a senior who has a spouse or common-law partner who does not receive the OAS pension or the Allowance is $51,840. The income threshold for a senior who has a spouse or common-law partner who receives the Allowance is $39,984.

You can find the current income thresholds and GIS amounts for different situations on the Government of Canada website.

IMPORTANT LINKS:

How much does the GIS pay?

The GIS amount depends on your income, marital status, and residency. The GIS amount is reduced by 50 cents for every dollar of income you or your spouse or common-law partner have, excluding the OAS pension.

The maximum monthly GIS amount for a single, widowed, or divorced senior is $1,065.47 as of January 2024. This means that if your income in 2023 was zero, you may receive $1,065.47 per month in GIS in 2024, in addition to your OAS pension.

The maximum monthly GIS amount for a senior who has a spouse or common-law partner who receives the full OAS pension is $641.35 as of January 2024. The maximum monthly GIS amount for a senior who has a spouse or common-law partner who does not receive the OAS pension or the Allowance is $1,065.47 as of January 2024. The maximum monthly GIS amount for a senior who has a spouse or common-law partner who receives the Allowance is $1,354.69 as of January 2024.

You can use the GIS calculator to estimate how much GIS you may receive based on your income and situation.

How to apply for the GIS?

To receive the GIS, you must apply for it. You can apply for the GIS when you apply for the OAS pension, or you can apply for it separately if you are already receiving the OAS pension.

You can apply for the GIS online through your My Service Canada Account, or you can download and fill out the GIS application form and mail it or bring it to a Service Canada office.

You will need to provide information about your income, your spouse or common-law partner’s income, your banking information, and your residency.

You must also file your income tax return every year by April 30 to keep receiving the GIS. The government will use your income information from your tax return to determine your GIS eligibility and amount for the next year.

You must also report any changes in your income or situation to Service Canada as soon as possible, as they may affect your GIS eligibility and amount. For example, you must report if:

  • your income or your spouse or common-law partner’s income changes
  • your marital status changes
  • you leave Canada for more than six months
  • you or your spouse or common-law partner go to jail
  • you or your spouse or common-law partner die

Is the GIS amount increasing to $1,800/month in 2024?

You may have seen some social media posts or videos claiming that the Canadian government is giving out $1,800/month to seniors who qualify for the GIS. But is this true? And if so, how can you get this money?

The answer is no. There is no official announcement or evidence that the GIS amount will increase to $1,800/month in 2024 or any other year. This claim is false and misleading, and may be part of a scam to get your personal or financial information.

The GIS amount is based on your income, marital status, and residency, and is adjusted every three months to reflect changes in the cost of living. The maximum monthly GIS amount for a single senior is $1,065.47 as of January 2024, and it may change slightly in April, July, and October 2024.

The government does not send out free money to seniors or anyone else without any eligibility criteria or application process. If you see any posts or videos promising you free money from the government, do not click on any links, share any information, or call any numbers. They may be trying to steal your identity, money, or personal data.

The government does provide financial assistance and benefits to seniors and other Canadians who need them, such as the GIS, the OAS pension, the CPP, the Canada Recovery Benefit, and the Canada Child Benefit. However, these benefits have specific eligibility requirements and application procedures, and are not given out randomly or automatically.

You can find out more about the government benefits and services available to you on the Government of Canada website, or by contacting Service Canada.

What are the GIS payment dates for 2024?

The GIS payment dates for 2024 are the same as the OAS payment dates, which are usually at the end of each month. You can receive your payment by direct deposit or cheque.

The GIS payment dates for 2024 are as follows:

  • January 29, 2024
  • February 27, 2024
  • March 26, 2024
  • April 26, 2024
  • May 29, 2024
  • June 26, 2024
  • July 29, 2024
  • August 28, 2024
  • September 25, 2024
  • October 29, 2024
  • November 27, 2024
  • December 20, 2024

If you are enrolled for direct deposit, the amount you are eligible for will be deposited to your bank account on the scheduled GIS payment dates. If you are receiving GIS cheques, the cheque should arrive by mail around the same date.

You can sign up for direct deposit online through your My Service Canada Account, or by calling 1-800-277-9914. Direct deposit is a safe and convenient way to receive your government benefits.

Conclusion

The Guaranteed Income Supplement (GIS) is a monthly benefit for low-income seniors who receive the Old Age Security (OAS) pension in Canada. The GIS amount depends on your income, marital status, and residency, and is adjusted every three months to reflect changes in the cost of living.

To receive the GIS, you must apply for it and meet the eligibility criteria. You must also file your taxes every year and report any changes in your income or situation.

There is no official announcement or evidence that the GIS amount will increase to $1,800/month in 2024 or any other year. This claim is false and misleading, and may be part of a scam to get your personal or financial information.

We hope this article has helped you understand the GIS better and how to avoid falling for false claims. If you have any questions or comments, please leave them below. We would love to hear from you, Hustlers!

If you enjoyed this article, please share it with your friends and family who may benefit from it. And don’t forget to check out our other articles on [HustleHub], where we provide you with the best tips and tricks to make money, save money, and live better.

Thank you for reading and happy hustling! 馃槉

Source: (1) Guaranteed Income Supplement – Canada.ca. https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/guaranteed-income-supplement.html. (2) Guaranteed Income Supplement: While receiving GIS – Canada.ca. https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/guaranteed-income-supplement/while-receiving.html. (3) Guaranteed Income Supplement: Your application – Canada.ca. https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/guaranteed-income-supplement/apply.html.

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