How do I set up OAS and GIS in my scenario?
Where to find it: CPP/QPP and OAS
Open CPP/QPP and OAS. Enter whether OAS is already being received, the age and months it begins, and the eligible years of residence at the application date. Complete these details for each spouse. If you change the start age, review the residence-years figure too.
TIME MACHINE estimates future OAS and the supported GIS or Allowance benefits using the pension and household income information. The setup includes an Ignore GIS option; check it only when you want to exclude that calculation. Ignoring all CPP/QPP, OAS and GIS is a separate, broader option.
Before running, complete the previous-year income and pension-payment information requested. In the reports, OAS and GIS can appear as a combined payment, with GIS or Allowance identified in the detailed year report.
Investment income and taxable retirement withdrawals can affect these benefits.