Ontario Guaranteed Annual Income System FAQs
- Why did my GAINS rate change?
- How do I apply for direct deposit payment?
- Why did I not receive a T5007 slip this year?
- How do I receive GAINS payments?
GAINS and Guaranteed Income Supplement (GIS) rates are reviewed each year based on private income reported on your income tax and benefit return for the previous calendar year. Your GAINS payments should remain the same throughout the benefit year which runs from July to June of the following year. However, there may be circumstances which will change your GAINS payment rate such as separation, death of a spouse, or a spouse turning 60 or 65.
How do I apply for direct deposit payment?
If you would like to arrange for Direct Deposit with Old Age Security and Guaranteed Income Supplement (OAS/GIS) and GAINS, contact Human Resources and Social Development Canada (HRSDC) at 1 800 277-9914 and they will automatically pass the information to us. You do not have to apply to GAINS.
Why did I not receive a T5007 slip this year?
T5007 slips are only issued to seniors who received $500.00 or more in net GAINS payments in the previous calendar year.
How do I receive GAINS payments?
If you currently receive a full or partial federal Old Age Security (OAS) pension plus the federal Guaranteed Income Supplement (GIS), you do not have to apply for GAINS. The amount of GAINS payment is directly linked to the amount of GIS monthly payments, and ranges between $2.50 and $ 83.00 per eligible person. GAINS payments decline as private incomes increase. Seniors with no private income receive maximum GAINS benefits of $83.00. A single senior whose private income (from sources such as Canada Pension Plan, bank interest) amounts to $1,992.00 a year is not entitled to GAINS. Similarly, couples with a combined private annual income of $3,984 are not entitled to GAINS.
