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Video instructions and help with filling out and completing Fill Form 8815 Guarantees

Instructions and Help about Fill Form 8815 Guarantees

As I mentioned last week, today I'm going to talk about the Guaranteed Income Supplement (GIS), otherwise known as G. GIS is a government benefit given to low-income seniors in Canada. When I first learned about GIS, it scared the hell out of me because I never knew this existed. I was like, "Oh my God, so many people are completely unprepared for retirement." And it shows in the numbers that I'm about to talk about. That is why I think what I'm doing is absolutely of the utmost importance. I am NOT an expert in GIS, and I hope that this is the last time that you ever have to understand what it even is, because you're listening to what I'm saying and you're starting to plan for your future. Currently, in Canada, there are over three million elderly Canadians that are taking some form of GIS, which means that they're living below the poverty line. And that number is only going to grow. At the end of this video, I'm going to explain a really cool strategy where you can actually potentially take advantage of the government and get GIS, even though you shouldn't be deserving of it whatsoever. But first, I'm just gonna explain it really simply because when you read about this on the website, it's quite confusing. So, the first thing that you need to know about GIS is that it's available to all senior Canadians who are eligible for old age security, which I talked about last week. You also have to be residing in Canada to receive GIS, and you have to have an income below a certain threshold. Any income that you have will reduce your GIS benefit, excluding what you're getting from old age security. GIS is not taxable income, unlike all the...