Certified Financial Planner (CFP) Practice Exam · Question
Maria, 70, receives the maximum OAS pension of $713.34 per month. Her 2023 net income from a small pension and investments (excluding OAS and GIS) was $30,000. What is her estimated monthly GIS benefit from July 2024 to June 2025?
For 2024, a single senior's GIS is completely eliminated if their net annual income (excluding OAS and GIS) exceeds approximately $23,754. With Maria's income o
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Question: Maria, 70, receives the maximum OAS pension of $713.34 per month. Her 2023 net income from a small pension and investments (excluding OAS and GIS) was $30,000. What is her estimated monthly GIS benefit from July 2024 to June 2025?
Answer options:
- $1065.00 ✅ $0.00
- $532.50
- $250.00
Correct answer: $0.00
Explanation: For 2024, a single senior's GIS is completely eliminated if their net annual income (excluding OAS and GIS) exceeds approximately $23,754. With Maria's income of $30,000, she significantly exceeds this threshold, therefore, her GIS benefit would be $0.
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