An Act to amend the Old Age Security Act (definition of income)
Bill S-240 was a Senate Private Member's Bill amending the Old Age Security Act (R.S.C. 1985, c. O-9) to update the definition of income for the Guaranteed Income Supplement (GIS) clawback. Currently the GIS reduces by 50 cents for every dollar of other-than-OAS income above approximately $5,000 per year for single seniors. The bill called for indexing the threshold to inflation, exempting Canada Pension Plan disability benefits from the clawback calculation, and adjusting the formula for surviving-spouse-pension-recipient seniors. Approximately 2.2 million Canadian seniors received GIS payments in 2024 per Employment and Social Development Canada data. Did not pass third reading.
Status
Quick learn
Would change how the Guaranteed Income Supplement counts income so a one-time lump sum, like retroactive CPP back-pay, does not push a low-income senior off the GIS for the year. It would also index the income threshold to inflation. A Senate bill; it did not pass third reading.
Issues this bill touches
- Cost of Living
OAS Act definition of income for GIS clawback.
Legislative history
- First reading
First reading in the Senate.
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Official source
Read full text on Parliament of Canada