Hi please help

[canuck78]

you can also utilize your RRSP, but meantime you pay more tax that year. it should serve as last resort, if you are only short of a little on line 150.
i will stop here. this is an immigration forum

Very bad idea to take out RRSPs and take the penalty in the hopes that you may get selected to sponsor your parents. You still need actual funds to support your parents and at 39k it would be hard to pay for many expenses related to ageing in Canada. You would also be harming your own financial future by taking out RRSPs.

 

[steaky]

Your income is still very low to realistically support parents. For example how would you pay the bed fee if one parent had to enter longterm care. You’d be responsible for 1k-1.5k/ month. There are many expenses that are not covered the government that are associated with getting older.

How about the parent return to home country where standard of living is lower?

 

[canuck78]

How about the parent return to home country where standard of living is lower?

Parents remaining in their home country and living their everyday lives? Not sure what is wrong with that. An average living standard that is considered lower than Canada doesn’t actually mean that families don’t have a good quality of life in their home country or that everyone in Canada is living with a good standard of living. In this situation the child will likely have more impact by sending money to his parents. At his income level there would be minimal disposable income and seniors have many expenses that are not covered by the government. Unfortunately there are many low income seniors and families that are dependent on food banks, go without medical devices, can’t afford things like incontinence supplies, etc.

 

[steaky]

Parents remaining in their home country and living their everyday lives? Not sure what is wrong with that. An average living standard that is considered lower than Canada doesn’t actually mean that families don’t have a good quality of life in their home country or that everyone in Canada is living with a good standard of living. In this situation the child will likely have more impact by sending money to his parents. At his income level there would be minimal disposable income and seniors have many expenses that are not covered by the government. Unfortunately there are many low income seniors and families that are dependent on food banks, go without medical devices, can’t afford things like incontinence supplies, etc.

No one said there's any wrong doing. Do you have a problem with that arrangement?