Guaranteed Income Supplement in Canada (GIS) 🍁

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The Guaranteed Income Supplement (GIS) is a tax-free, monthly payment paid by the Government of Canada to eligible seniors. In this video, we'll review the qualification criteria for Guaranteed Income Supplement (GIS) as a supplement to Canadian Pension and review who is eligible for GIS.

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📌Video Chapters
Intro - 0:00
Guaranteed Income Supplement (GIS) - 0:24
Eligibility for GIS as an Immigrant - 1:25
How much GIS pays? - 3:04
GIS Allowance for the survivor 3:28
How to determine income - 3:53
Exemptions from income - 4:53
Closing 5:55

🔗 How are you preparing and saving for your retirement years? ... Let us know in the comment section down below.

#retirementplanning #saving #canada #finances #financialfreedom

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Great video, Moe! Hopefully this will help many people!!

WaysToWealth
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GIS depends on your income.
By: “income”, do you mean “total income” or “net income before taxes” or “net income after taxes”?

johnsmith
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Who’s original Canadian other than immigrants?

EngrAhmed
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They have to bring it up cost of living is thrue the roof 🤷🏼‍♂️🇨🇦🫵

simonac.
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Good safety net for those with lower income levels at retirement years

kaisohotpeppersauce
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How come they don't have a simple chart.

For example if you have an extra income on top of your Canadian pension, say 25, 000, 50, 000, 75, 000 $100, 000 per year do you get any guaranteed supplement income?

For example my friend has real estate income I think about $90, 000 per year would he qualify for GIS? If so how much would you get? I told him I doubt he would get very much if any but I could be wrong.

surreallife
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What if I make a withdrawal from my TFSA? Is that considered income? Is GIS means tested at all?

stevelavery