Seniors to receive tax-free payment this weekBy The IJ Staff | July 06 2020 12:35PM
Seniors eligible for the Old Age Security (OAS) pension, the Guaranteed Income Supplement (GIS), or Allowances will receive a one-time, tax-free payment this week from the federal government, without needing to apply, announced Deb Schulte, Minister of Seniors July 6.
Seniors who reside in Canada can expect to receive the payment by direct deposit or cheque this week, whereas seniors who reside outside Canada can expect this one-time payment in July for those on direct deposit, or by cheque with delays given international postal disruptions.
Through several measures, the Government is providing about $900 for low-income single seniors and more than $1,500 for low-income senior couples, in addition to their existing benefits, to help with extra costs during the pandemic.
Seniors eligible for the OAS pension will receive a payment of $300, and those seniors also eligible for the GIS will receive an additional $200, for a total of $500. Allowance recipients will also receive $500.
This $2.5 billion measure aims to help Canadian seniors cover increased costs caused by COVID-19.
"It is important that we help seniors in Canada through this difficult time. With this one-time tax-free payment, we are continuing to support seniors to ensure they are able to get the essentials they need. As we go through this unprecedented challenge, we are providing a variety of measures that support seniors and ensure they know that we are with them and they are not left behind," stated Schulte.