The Canadian government and CRA has announced various types of benefits for the citizens so that they can provide some financial help to them. Guaranteed Income Supplement is also a part of these benefits in which a $1,364.17 GIS Benefit August 2024 is going to made by CRA to all the eligible residents. All those individuals who live in Canada as permanent residents for tax purposes and completed their age of 65 years will be considered as eligible beneficiaries under Guaranteed Income Supplement. The amount they received by the CRA under GSI will not be considered taxable income. All those pensioners who are eligible for the OAS pension and have low income will be eligible to get the benefit of GIS. The income of the individual will also be considered by the authority for the eligibility for GIS. if you are a Canadian and wants to know about their eligibility and GIS benefit, you need to spend their some of precious time to read the whole article carefully as all the relevant information about the GIS benefit is available in the article.
$1,364.17 GIS Benefit August 2024
The payment of a benefit named $1,364.17 GIS Benefit is going to be made by the CRA soon to all those Canadians who are eligible to get the benefit. To get the beneficiary of this supplementary benefit you have to match all the requirements which are required for the eligibility of this GIS benefit. As per the official website all those students who are 65 years and older will be considered as eligible beneficiaries of this plan. Only those individuals can be the beneficiary of this benefit who are residents of Canada. The income of the individual will also be considered to determine the eligibility of the beneficiaries for this GIS Benefit. The authority will deposit the beneficiary amount straight into the recipient’s bank account. The authority will receive the beneficiary amount of $1,364.17 GIS Benefit August 2024. There is no specific date revealed by the authority regarding the payment of the beneficiary amount but in August, 2024 the authority will credit the payment. From the Canada.ca website all the individuals can get all the relevant details about the $1,364.17 GIS Benefit 2024.
Guaranteed Income Supplement Benefit 2024- Overview
| Benefit Name | GIS Benefit |
| Year | 2024 |
| Country | Canada |
| Authority | CRA |
| Beneficiary Amount | $1364.17 |
| Age Limit | 65 years and more |
| Payment will be made | In August, 2024 |
| Amount credited | Directly in the beneficiary bank account |
| Payment will be made | Every month |
| Category | Finance |
| Official website | canada.ca |
GIS Benefit Eligibility 2024
To get the beneficiary of this supplementary benefit you have to match all the requirements which are required for the eligibility of this GIS benefit.
- All those individuals who completed their age of 65 years will be considered as eligible beneficiaries of this Guaranteed Income Supplement.
- All those candidates will be eligible who are permanent residents of Canada as per the tax purposes.
- All those candidates who are eligible to get the payment of OAS.
- If you are an individual who is divorce, widow or single and earned below then $21768.
- If you are a married person your income and your common law partner or spouse income should be less then below amount as per the conditions mentioned:
- $28752 if the individual or spouse or common law partner of the individual is eligible to get the benefit of full OAS amount.
- $52176 if the individual or spouse or common law partner of the individual is not eligible to get the benefit of full OAS amount.
- $40272 if the individual or spouse or common law partner of the individual is eligible to get the benefit of allowance.
- If you shifted Canada as an immigrant.
If you are a individual who is a sponsored immigrant and did not lived in Canada for more than 10 years after completing their age of 18 years then you will not be considered as eligible individual of GIS unless your spouse or common law partner is:
- Suffering for personal bankruptcy
- For the duration of 6 month or more they are imprisoned
- Dies
- In a convict for abusing you
- If you are a individual who is a non sponsored immigrant
If you are an unsponsored individual, you will be qualified to receive the GIS benefit if you are eligible for the OAS payment.
GIS Benefit Payment Amount 2024
by the authority the beneficiary amount of GIS will be determine on the basis of the marital status of the individual and on the basis of the previous year income of the individual:
GIS Benefit Amount (July to September 2024)
| Your Condition | Yearly Income Of The Individual | Maximum Monthly Payment |
| If you are a individual who is divorce, single or widowed | Must be below then $21768 | Uo to $1072.93 |
| if the spouse or common law partner of the individual is not eligible to get the benefit of full OAS amount | Must be below then $28750 (Joint Income of the Couple) | Up to $645.84 |
| if the spouse or common law partner of the individual is eligible to get the benefit of allowance | Must be below then $40272(Joint Income of the Couple) | Up to $645.84 |
| if the spouse or common law partner of the individual is eligible to get the benefit of OAS or allowance | Must be below then $52176(Joint Income of the Couple) | Up to $1072.93 |
FAQs on $1,364.17 GIS Benefit August 2024
by the Authority $1,364.17 beneficiary amount will be paid under GIS benefit 2024.
The beneficiary amount of $1,364.17 GIS will be deposited In the bank account of the beneficiary.
John Wick is a Media and Finance editor, passionate about writing and editing content related to finance and taxes. He has achieved dual degree in Mass Media and Finance From one of the top universities in the World. He is keen to learn new things and changes which take place in the world of Finance and stocks.