In Canada, CRA the Government Agency provides the OAS And GIS Payment for its citizens. These payments are made to the old and senior citizens. This is provided to assist the citizens financially so that the seniors can grapple with inflationary cycles and high living costs. In 2024 the Canadian Government initiates the extra assistance through the program $500 For OAS & $1500 For GIS 2 Direct Deposits 2024. In this post we will see the reality and facts for these OAS and GIS Payments covering its OAS, GIS Eligibility 2024 requirements, deposit dates and regular amounts for the payment.
$500 For OAS & $1500 For GIS 2 Direct Deposits 2024
OAS is the Old Aged Security and GIS is the Guaranteed Income supplement which is provided to the senior citizens of Canada for financial Assistance. The Canada GIS Changes 2024 is a part of the Old Age Security Pension Plan. The OAS recipients can only get this Guaranteed Income Supplement. In this post we will know about the $500 For OAS & $1500 For GIS 2 Direct Deposits 2024 with its facts, who will get this extra cash assistance, when the payout will be made and how the payments will be made. Also we will get to know the regular amounts for the payout.
OAS, GIS Benefits 2024- Overview
| Title | $500 For OAS & $1500 For GIS 2 Direct Deposits 2024 |
| Year | 2024 |
| Country | Canada |
| Name of the Payment | Old Age Security and Guaranteed Income Supplement |
| Name of the Agency | Canada Revenue Agency |
| OAS, GIS Eligibility 2024 | OAS and GIS recipients |
| Objective | Financial Aid |
| 2 Direct Deposits Date 2024 | Check post |
| Mode of Payment | Direct Deposit |
| OAS & GIS Payout Amount 2024 | Read the full article |
| Category | Finance |
| Official Web Portal | www.canada.ca |
OAS, GIS Eligibility 2024
OAS, GIS Eligibility 2024 can be determined by the factors such as age, residency, number of years senior citizens live in Canada, income limit. Here we will see the eligibility requirements based on these factors:
$500 For OAS Direct Deposit Eligibility 2024:
- 65 Years is the age requirement for this $500 OAS Payment.
- Canadian Legal Residency is required for this $500 OAS Payment.
- 10 Years is the minimum time requirement from the age 18 Years to live in Canada for this $500 OAS Payment.
- Here is the yearly income limit for this $500 OAS Payment:
| Age of the Canadian Citizen | Annual Income Limit |
| 65 Years – 74 Years | $142,609 |
| 75 Years and Over | $148,179 |
$1500 For GIS Direct Deposit Eligibility 2024:
- 65 Years is the minimum age for qualification for this $1500 GIS Payment.
- Living in Canada is a must for this $1500 GIS Payment.
- The applicant must be an OAS beneficiary for this $1500 GIS Payment.
- These are the annual income threshold for $1500 GIS Payment based on the status of the citizen.
| Status of the Canadian Citizen | Annual Income Limit |
| Single | $21,768 |
| Spouse with Full OAS Pension | $28,752 |
| Spouse with Allowance | $40,272 |
| Spouse without OAS Pension & Allowance | $52,176 |
$500 For OAS & $1500 For GIS 2 Direct Deposits Date 2024
$500 For OAS & $1500 For GIS 2 Direct Deposits Date 2024 are not approved and confirmed. We recommend the qualified citizens to wait for the official notification as the distribution dates are provided in the official notification. We also presume that the distribution of these payments can be made with the regular plan. These Monthly payments can be sent or transferred via check and direct deposit. Here check the normal or standard CRA Credit Dates August 2024.
| Month | $500 For OAS & $1500 For GIS 2 Direct Deposits Date 2024 |
| January | 29th |
| February | 27th |
| March | 26th |
| April | 26th |
| May | 29th |
| June | 26th |
| July | 29th |
| August | 28th |
| September | 25th |
| October | 29th |
| November | 27th |
| December | 20th |
OAS & GIS Payout Amount 2024
Upcoming OAS and GIS Payment amount is $500 and $1500 respectively. These amounts are not yet confirmed or approved by the official authorities. These OAS & GIS upcoming amounts can be altered or revised as per the CRA’s needs. Here we provide the regular OAS & GIS Amount 2024 for your reference. Check below for the payout amounts:
OAS Payout Amount 2024:
| Age of the Canadian Citizen | Annual Income Limit | OAS Payout Amount 2024 | Upcoming OAS Payout Amount 2024 |
| 65 Years – 74 Years | $142,609 | $718.33 | $500 |
| 75 Years and Over | $148,179 | $790.16 | $500 |
GIS Payout Amount 2024:
| Status of the Canadian Citizen | Annual Income Limit | GIS Payout Amount 2024 | Upcoming GIS Payout Amount 2024 |
| Single | $21,768 | $1072.93 | $1500 |
| Spouse with Full OAS Pension | $28,752 | $645.84 | $1500 |
| Spouse with Allowance | $40,272 | $645.84 | $1500 |
| Spouse without OAS Pension & Allowance | $52,176 | $1072.93 | $1500 |
FAQ Related To $500 For OAS & $1500 For GIS 2 Direct Deposits 2024
No, this news is not yet confirmed by the CRA’s Authorities.
This Assistance will be made through Direct Deposit.
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.