GIS retroactive payment showing high income - impact on future GIS and tax credits?
Hi, I’m helping my parents with their taxes and just want to confirm I’m understanding this correctly. They both receive OAS and GIS, along with very small income from CPP and a bit of interest. In 2025, their total income shows around $28k-$29k, but this is mainly due to a GIS lump sum (retroactive payment from 2024). From what I understand, GIS is non-taxable, and their actual taxable income is still very low (around $2k-$4k). I just want to ask if this lump sum will affect their future GIS payments, and when claiming a parent as an eligible dependant (line 30400), should I ignore GIS and only consider taxable income? Also, is this something CRA might question or reassess? Thanks!
u/mrPringl3s — 22 hours ago