Which of the following is a tax-free benefit?

Name: Which of the following is a tax-free benefit?
Brand: Quizplus
Rating: 4.7 (55 reviews)

Question

Quizplus · Accepted Answer

GIS (Guaranteed Income Supplement) is a tax-free benefit provided by the government of Canada to low-income seniors receiving OAS (Old Age Security). CPP (Canada Pension Plan) and RRIF (Registered Retirement Income Fund) are not tax-free benefits as they are subject to tax. OAS (Old Age Security) is also not tax-free, but may be clawed back for higher-income seniors.

Which of the Following Is a Tax-Free Benefit