Mr. Speaker GIS is meant for low-income seniors, but the Conservatives have created a loophole where soon even the rich can qualify. Here is how.
If people maximizes their TFSAs and delay other income until the age of 70, they could get the maximum GIS for three years while living off their TFSAs. This morning the PBO confirmed that this will lead to billions of dollars per year in extra GIS payments.
Why are the Conservatives raising the age of GIS for those most vulnerable Canadian seniors and leaving this loophole for wealthier seniors who do not need the help?