Couples 65 and older: up to $16,453 a year in Guaranteed Income Supplement sits in your household — and pension splitting protects none of it.
Service Canada adds both of your incomes together, so the form your accountant files in April can save you tax and still leave your GIS at zero.

This video walks through the couples' side of GIS, OAS and the Allowance in plain English, with the real 2026 numbers and the exact forms to ask for. We cover what pension income splitting (Form T1032) actually does — a genuine tax saving and protection against the OAS recovery tax at $95,323 — and why it moves your GIS by nothing at all, because GIS for a married or common-law couple runs on combined income under $30,528. We go through the Allowance for a spouse aged 60 to 64 (up to $1,448.06 a month, combined income ceiling $42,768, Form ISP-3008) and the Allowance for the Survivor (up to $1,726.18 a month), including the eleven-month retroactivity limit that quietly costs people thousands. Then the household where one of you is 66 and the other is 62, where a single RRIF withdrawal gets counted against two different cheques — and why a $10,000 roof can cost closer to $15,000 in real money. Plus: why TFSA withdrawals are invisible to Service Canada, the $5,000 employment income exemption, the December 31 timing window, the order to drain your accounts in, the CPP decision for the lower-earning spouse, and Form ISP-3041 — the Statement of Estimated Income you cannot download from the website.

Everything here is CPP, Old Age Security, GIS, CRA and Service Canada rules for Canadian seniors — real dollar figures, real forms, one action each.

CHAPTERS:
0:00 — $16,453 in GIS, and the form most couples get wrong
0:18 — Pension income splitting: how Form T1032 actually works
0:48 — GIS is not a tax calculation: the $30,528 combined income test
1:25 — Harold and Marie: the split that changed their GIS by zero
2:00 — The mistake: believing GIS is tested on each spouse separately
2:11 — What splitting does protect: the OAS recovery tax at $95,323
2:58 — The Allowance: up to $1,448.06 a month at ages 60 to 64
3:42 — Allowance for the Survivor: up to $1,726.18 a month
3:58 — Form ISP-3008 and the eleven-month retroactivity cliff
4:45 — What counts as income, and what Service Canada ignores
5:09 — One household, two cheques: the $10,000 RRIF roof
5:57 — TFSA withdrawals, and the $5,000 work income exemption
6:36 — Timing: why December 29 and January 3 are not the same
7:26 — Drawdown order, the age-71 RRIF rule, and CPP at 60
9:25 — Form ISP-3041: don't wait until July after you retire
10:36 — File by April 30 or the payments stop
10:56 — The couples' checklist, and the one number that runs it all

📌 Helpful resources (official, free):
• My Service Canada Account (CPP/OAS/GIS): https://www.canada.ca/en/employment-s...
• Public pensions — CPP, OAS, GIS: https://www.canada.ca/en/services/ben...
• CRA My Account (taxes): https://www.canada.ca/en/revenue-agen...
• Service Canada: 1-800-O-Canada (1-800-622-6232)

Allowance and GIS line: 1-800-277-9914

If this helped, subscribe and turn on the bell — these are the rules that move actual money, and the deadlines don't wait. Share this with someone who gets OAS, and tell me in the comments which form you're asking for first: T1032, ISP-3008 or ISP-3041.

☕ If these videos help you or someone you love, you can support the channel here: https://buymeacoffee.com/wtns

This channel provides general information about Canadian benefit rules, not personal financial or tax advice. Figures are current for 2026 — always confirm your own numbers with Service Canada or on canada.ca.

#GIS #OldAgeSecurity #CanadianSeniors