The Service Canada government has joined hands in order to provide a monthly financial cushion to senior citizens of Canada aged 65 years and above. As we all know, the country progresses only because of its citizens who contribute to the well being of the society and overall development and growth of the country. The government of Canada has decided to start a monthly financial help to the seniors which they need the most at this stage. The $1057 GIS Allowance In June 2024 will be provided to the senior citizens of Canada once their application gets approved.
The motive of the program is to give the senior citizens a stress free, relieved, and a peaceful life throughout. The citizens of Canada, primarily seniors have majorly contributed in building the economic status of the country and in turn now at the stage where working hard has become a matter of concern for them, the government will be providing them with assistance to make them live a comfortable life.
$1057 GIS Allowance In June 2024
$1057 GIS Allowance In June 2024 would be given to the senior citizens of Canada in order to build confidence in them in terms of taking financial decisions at this stage in their lives. A monthly non taxable amount provided to the senior citizens will help them make better decisions in their lives and make them live independently for the rest of their lives. Financial stability is the most important key in every individual’s life and getting an amount of $1057 monthly would act as an addition to the income of the senior citizens and they can spend without any restrictions.
| Post title | $1057 GIS Allowance In June 2024 |
|---|---|
| Country | Canada |
| Commencement | June 2024 |
| Aim | To provide non taxable financial assistance of $1057 monthly |
| Beneficiaries | Senior Citizens of Canada |
| Amount to be provided | $1057 |
| $1057 GIS Allowance Payment Date 2024 | June 2024 |
| $1057 GIS Allowance Eligibility 2024 | Senior citizens having age of 65 years and above. |
| Process | Apply via submitting an application |
| Additional benefits | The Program is Non taxable |
| Category | Financial Aid |
| Website | canada.ca |
Disclaimer : We and our publication do not certify or give any confirmation on the same. To know more about the related topic, kindly visit the official website www.canada.ca to get your queries resolved.
Guaranteed Income Supplement Benefits 2024
- The service Canada government has taken an initiative to provide financial assistance to the seniors citizens of their country Canada.
- The amount of $1057 will be provided to the seniors citizens of Canada.
- The purpose:
- To give a stress free life to the seniors.
- To provide them monthly financial support.
- To help them meet their healthcare expenses, home loans, daily bills etc.
- To make them independent by supporting them financially.
- To reduce their never ending stress of managing and striking a balance between their finances and expenses.
- To give them financial support with a token of recognition and honor and make them realize that their contribution has been valued.
- To provide an assistance which is totally non taxable.
- To make the senior citizens indulge in other community activities without worrying about their finances.
$1057 GIS Allowance Eligibility 2024
- Age – 65 years and above
- Nationality and Citizenship – Canada
- Must be availing OAS (Old Age Pension ) plan already.
- Minimum Income level and Marital status of citizens :
- Single ]
- Widowed ] Below $21,624.
- Divorced ]
- Combined income of you and your spouse/ common law partner should be less than:
- $28,560- If spouse avails full OAS pension.
- $51,840 – If spouse does not receive OAS pension.
- $39.984 – If the spouse receives the allowance.
- For Sponsored Immigrants in canada :
- In case, any sponsored immigrant has lived in canada for > 10 years after turning 18, he/ she cannot receive the GIS Allowance unless the sponsor:
– Get completely bankrupt
- – Is under imprisonment for >= 6 months
- – Is declared responsible for abusing you
- – Dies
- Non sponsored immigrants in Canada.
- If you already get the OAS pension plan, you become eligible to even avail the GIS Allowance even if you are a non sponsored immigrant.
Guaranteed Income Supplement Payment Amount 2024
| Marital Status | Minimum Annual Income | Maximum payment amount per month |
|---|---|---|
| Single Divorced Widowed | >= $ 21,624 | Up to $ 1,065.47 |
| Spouse/ common law partner who avails full OAS pension benefits | >= 28,560 (combined annual income of couple) | Up to $ 641.35 |
| Spouse/ common law partner who receives allowance | >= 39,984 (combined annual income of couple) | Up to $641.35 |
| Spouse/ common law partner who neither avails full OAS pension benefits nor get allowance | >= 51,480 (combined annual income of couple) | Up to $1,065.47 |
$1057 GIS Allowance Payment Date 2024
According to the consumer price index, every quarter the amount is re assessed. The dates of receiving the payments are the same as of OAS pension.
| GIS Payment dates 2024 | $1057 GIS Allowance Payment Date 2024 |
|---|---|
| January | 29/01/2024 |
| February | 27/02/2024 |
| March | 26/04/2024 |
| April | 26/04/2024 |
| May | 29/05/2024 |
| June | 26/06/2024 |
| July | 29/07/2024 |
| Aug | 28/08/2024 |
| September | 25/09/204 |
| Oct | 29/10/2024 |
| November | 27/11/2024 |
| December | 20/12/2024 |
FAQs $1057 GIS Allowance In June 2024
To provide a comfortable life to the seniors.
To provide them monthly financial support.
To help them meet their healthcare expenses, home loans, daily bills etc.
To make them independent by supporting them financially.
Check the table provided above regarding the $1057 GIS Allowance Payment Date 2024
Age – 65 years and above
Nationality and Citizenship – Canada
Must be availing OAS (Old Age Pension ) plan already.
Giorgio Smith, a Texan native, is a seasoned senior editor at tnpscexams.net. He has done Master of Business Administration in Finance. he boasts over 9 years of experience in finance. Giorgio expertise is in finance, insurance, and money-related content.