1. News & Issues
You can opt-out at any time. Please refer to our privacy policy for contact information.

Guaranteed Income Supplement - GIS

By

Definition:

Updated: 03/09/2013

The Guaranteed Income Supplement is a Canadian federal government income support program which supplements the Old Age Security pension for low-income seniors living in Canada. You must be entitled to the Old Age Security pension to qualify for the Guaranteed Income Supplement. The Guaranteed Income Supplement is not considered taxable income, although it must be reported on your tax return.

The Guaranteed Income Supplement is not automatic; you must apply for it. Because income changes from year to year, you must renew your application each year. Renewals are normally done by filing a Canadian income tax return.

See Also:

©2014 About.com. All rights reserved.