GIS Direct Deposit: $1,800/Month – Facts, Eligibility, and Payment Schedule

Updated on February 10, 2024

Exciting News: GIS Pension Increased to $1,800/Month – Details on Eligibility, Facts, and Payment Dates

$1,800/Month GIS Direct Deposit Coming?

With inflation on the rise, CPP, OAS, and GIS benefits have seen an increase. The latest budget allocation by CRA brings news of modifications to pension plans. GIS, a special aid from the Canadian Government to combat inflation and poverty, will see a $1,800 boost in deposits for seniors. The amount varies based on income and marital status. GIS is disbursed in four instalments annually, starting in January, followed by summer deposits, and a final instalment to assist with winter expenses.

$1,800/Month GIS Direct Deposit Eligibility

To qualify for the increased GIS amount, candidates must meet specific criteria outlined below:

  1. Age Requirement: Pensioners must be above 65 years old. Survivor’s age is not mandatory for supplementary aid.
  2. Income Threshold: The benefit amount is calculated based on minimum income. Individuals should have a threshold of $21,624, while couples should have a threshold of $28,560. Candidates eligible for the OAS allowance must have a minimum income of $51,840. In 2024, the threshold limit has been raised to $39,948

For the OAS Pension, eligible candidates must present the benefit receipt during disbursement. Legal criteria include Canadian residency; couples with non-Canadian spouses, residing over ten years in the country, are also eligible. Those meeting all criteria can apply for the benefit, with payment dates and GIS details discussed in the following sections.

$1,800/Month GIS Direct Deposit Payment Dates 2024

Candidates can expect to receive $1800 in instalments on the upcoming pay date through direct deposit. The first payment on January 29, 2024, was followed by the next instalment set for April 20, 2024, ensuring an increased amount in their accounts on this date.

If beneficiaries haven’t received the increased amount by April 2024, they should wait for the next segment to see the boost in their paychecks. Delays might occur due to modifications in their accounts, possibly undergoing a verification process, with the $1800 amount expected to be received by the end of July 2024.

$1,800/Month GIS Fact Check

Candidates need not apply for the increased amount; eligibility will be assessed through “My CRA Account.” Verification considers the timeline of tax returns. Any modifications, like address, contact details, or legal changes, should be updated via this account. Beneficiaries can also contact officials through Canada.ca.

It’s advised to complete pending tax returns before GIS disbursement, trackable through “My CRA Account.” Changes made before disbursement won’t affect the deposit amount.

 

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