Disclaimer: This article is for informational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making financial decisions.

If you’re a senior in Canada, you may be eligible for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS)—two key government benefits designed to provide financial support for low-income seniors. However, eligibility rules, payment amounts, and income limits can be confusing.

In this guide, we’ll cover:

• Who qualifies for OAS and GIS?
• How to apply for OAS and GIS benefits
• What happens if you live outside Canada?
• Does having a high bank balance affect eligibility?
• Is OAS Taxable and Is GIS taxable?
• How much can a low-income couple receive?
• Canada GIS income limits: How much can you earn before losing benefits?
• Is GIS really guaranteed, or can it be taken away?

Let’s dive in!

OAS and GIS Eligibility: Who Qualifies?

Old Age Security (OAS) Eligibility

You qualify for OAS payments if you:

• ✔ Are 65 or older
• ✔ Are a Canadian citizen or permanent resident
• ✔ Have lived in Canada for at least 10 years after age 18 (for partial OAS)
• ✔ Have lived in Canada for 40 years after age 18 (for full OAS)

Guaranteed Income Supplement (GIS) Eligibility

You qualify for GIS benefits if you:

• ✔ Receive OAS
• ✔ Have low income (below the government threshold)
• ✔ Live in Canada

GIS is a non-taxable monthly benefit, but it is income-tested and recalculated every year based on your annual income tax return.

How to Apply for OAS and GIS

Applying for OAS

• Many seniors are automatically enrolled at age 65.
• If not, you can apply through My Service Canada Account (MSCA) or by submitting a paper application.
• Apply 6 months before your 65th birthday to avoid delays.

Applying for GIS

• GIS is NOT automatic—you must apply separately.
• Apply when you apply for OAS.
• Eligibility is reviewed every year based on your income tax return.

What Happens If You Live Outside Canada?

OAS Payments for Expats

• If you lived in Canada for 20+ years after age 18, you can receive OAS worldwide.
• If you lived in Canada for less than 20 years, you must reside in Canada to get OAS.

GIS Payments for Seniors Living Abroad

• GIS payments STOP if you leave Canada for more than 6 months.
• You must be physically present in Canada to continue receiving GIS.

Does Having a Million Dollars in the Bank Affect OAS & GIS?

• OAS is NOT asset-tested—your savings don’t matter, but your income does.
• If your annual income exceeds $90,997 (2024 limit), OAS will be clawed back (reduced).
• GIS is income-tested, not asset-tested—you can have a high bank balance, but if it generates little or no taxable income, you may still qualify.
• Withdrawals from RRSPs, investments, or pensions can increase your income and reduce your GIS.

Are OAS and GIS Taxable?

• OAS is taxable and subject to the OAS clawback if your income is too high.
• GIS is non-taxable, but it can be reduced or eliminated if your income exceeds the limit.

How Much Can Low-Income Seniors Receive?

Maximum OAS and GIS Payments (2024)

Status	OAS (per month)	GIS (per month)	Total (per month)
Single Senior	$1,065.47	$1,065.47	$2,130.94
Couple (both on OAS & GIS)	$1,065.47	$641.35	$3,413.64 (combined)
Couple (only one on OAS & GIS)	$1,065.47	$1,472.58	$2,538.05 (combined)

GIS decreases as your income increases. See income thresholds below.

Canada GIS Income Limits: How Much Can You Earn Before Losing GIS?

GIS benefits are income-dependent, meaning your payments decrease as your income increases.

1. Single Seniors (Receiving OAS)

Annual Income (excluding OAS)	Monthly GIS Payment	Total (OAS + GIS)
$0 – $5,760	$1,065.47	$2,130.94
$10,000	$812.97	$1,878.44
$15,000	$488.97	$1,554.44
$20,000	$164.97	$1,230.44
$21,624+ (cut-off)	$0	$1,065.47

Key Takeaways:

• If you have no income, you get the maximum GIS ($1,065.47/month).
• If your income exceeds $21,624, you no longer qualify for GIS.

2. Couples (Both Receiving OAS)

Combined Annual Income	GIS per Spouse	Total for Couple (OAS + GIS)
$0 – $9,648	$641.35	$3,413.64
$15,000	$493.35	$3,018.64
$25,000	$93.35	$2,218.64
$28,560+ (cut-off)	$0	$2,130.94

3. Couples (Only One Receives OAS)

Combined Annual Income	GIS for OAS Recipient	Total for Couple
$0 – $5,760	$1,472.58	$2,538.05
$10,000	$1,060.08	$2,125.55
$20,000	$335.08	$1,400.55
$28,560+ (cut-off)	$0	$1,065.47

Is GIS Guaranteed, or Can It Be Taken Away?

• GIS is NOT guaranteed forever. While unlikely, the government could change eligibility rules or income thresholds.
• As long as you qualify, you’ll continue to receive GIS, but your monthly payments can change based on your income.