TFSA vs RRIF After Retirement Which One Destroys Your GIS And Which One Protects It 1

Описание: If your monthly benefit payment ever changed — and you weren't sure why — your registered accounts may have had something to do with it. Many Canadian seniors are unknowingly reducing their own Guaranteed Income Supplement simply by withdrawing money from the wrong account at the wrong time.
This video explains the difference between a TFSA and a RRIF as it relates specifically to your GIS eligibility. The rules are straightforward once they are laid out clearly — and knowing them could protect hundreds or even thousands of dollars in annual GIS payments.
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IN THIS VIDEO YOU WILL LEARN:
• Why withdrawals from a RRIF count as income and can reduce your GIS
• Why TFSA withdrawals do not appear on your tax return and do not affect your GIS
• How Service Canada calculates your GIS each July based on the previous year's income
• What Line 23600 on your tax return means and why it matters for your benefits
• How to check your TFSA contribution room through your CRA My Account
• What the GIS clawback rate is and how it works in plain language
• What steps to take before making any withdrawal from a registered account
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WHO SHOULD WATCH THIS VIDEO:
This video is for Canadian seniors who are currently receiving — or approaching eligibility for — the Guaranteed Income Supplement. It is especially relevant if you have both a TFSA and a RRIF, if you recently converted an RRSP to a RRIF, if your GIS payment dropped unexpectedly after July, or if you are on a fixed income and want to protect every dollar of your benefit. Widowed seniors managing accounts on their own for the first time will also find this explanation helpful.
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A NOTE ON ACCURACY:
All information in this video is based on the official rules set by the Government of Canada, the Canada Revenue Agency (CRA), and Service Canada. GIS thresholds and RRIF minimum withdrawal rates are updated periodically. We encourage you to verify current figures directly at canada.ca, through your CRA My Account, or by calling Service Canada at 1-800-277-9914.
This video is for general information purposes. It is not financial or legal advice. For guidance specific to your situation, consider speaking with a non-profit seniors' financial counsellor or a licensed financial planner with experience in Canadian retirement benefits.
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HAVE A QUESTION OR SITUATION YOU'D LIKE US TO COVER?
Leave a comment below. Many viewers share experiences that help others in the same situation understand they are not alone — and your question may become the subject of a future video.
If you want to stay informed about changes to CPP, OAS, GIS, and other Canadian retirement benefits, subscribing to Retirement Path Canada ensures you will see each new video as it is published.
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CHAPTERS:
0:00 — Introduction and why this matters 0:30 — What is the GIS and how is it calculated 3:00 — How RRIF withdrawals affect your GIS 8:00 — Why TFSA withdrawals do not affect your GIS 13:00 — Real-life examples: Dorothy vs Harold 17:30 — What to check in My Service Canada and CRA My Account 20:30 — Common mistakes seniors make with registered accounts 23:30 — What to expect in future years as RRIF minimums increase 26:00 — Summary and closing
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