Parents Sponsorship -- Financial Requirements

[ComTrix]

Hi Everyone,
I have a question please: if I have a good business and some good savings and I am able to show that, will the immigration officer still consider my application for parents sponsorship or is it that I have to meet the personal income requirements and show that in the last 3 T4s? Because to be honest on the personal income level, I do not meet the requirements.
When I called CIC they told me to apply anyway, but it will be within the officer hands to accept it or not. I guess they would not tell me not to apply because at the end of the day anyone can apply so that they can get more application fees.

Please let me know if you have any idea.

 

[kcward7]

Hi Everyone,
I have a question please: if I have a good business and some good savings and I am able to show that, will the immigration officer still consider my application for parents sponsorship or is it that I have to meet the personal income requirements and show that in the last 3 T4s? Because to be honest on the personal income level, I do not meet the requirements.
When I called CIC they told me to apply anyway, but it will be within the officer hands to accept it or not. I guess they would not tell me not to apply because at the end of the day anyone can apply so that they can get more application fees.

Please let me know if you have any idea.

Dear God. Sometimes the call center really blows my mind.

If you don't meet the requirements, DON'T apply. You're taking the spot away from someone who does!

 

[kcward7]

Minimum Necessary Income requirement for sponsors of parents or grandparents
If you are sponsoring a parent or a grandparent, you must meet the minimum necessary income requirement for each of the three years immediately preceding the date of your application. The minimum necessary income requirement is equal to the Low Income Cut offs (LICOs) plus 30%, taking into account the number of family members for whom you are or will be financially responsible.

http://www.cic.gc.ca/english/information/applications/guides/5772ETOC.asp

 

[scylla]

Hi Everyone,
I have a question please: if I have a good business and some good savings and I am able to show that, will the immigration officer still consider my application for parents sponsorship or is it that I have to meet the personal income requirements and show that in the last 3 T4s? Because to be honest on the personal income level, I do not meet the requirements.
When I called CIC they told me to apply anyway, but it will be within the officer hands to accept it or not. I guess they would not tell me not to apply because at the end of the day anyone can apply so that they can get more application fees.

Please let me know if you have any idea.

It's guaranteed you will be refused. You must meet the minimum income requirements in your personal tax return. It doesn't matter what your business makes or that you have savings. The personal income that you declare in your personal tax return must be at least equal to the low income cut off. The visa officers have no discretion in this matter. If you don't make enough income (per your personal tax return) - it's an automatic refusal.

CIC call centre gives out wrong answers all of the time. They are absolutely wrong in this case and you'll be wasting your time applying.

 

[Canadanewbies]

The LICO is unfair and biased against business owners. If I have a business I want to claim everything I can, which could mean I would be bellow the LICO. Why should I not be able to claim everything I can as a business owner?

 

[Canadanewbies]

what would happen if you took them to arbitration if they declined your sponsorship because of being below the LICO? The LICO is prejudice against small business owners.

 

[Rob_TO]

The LICO is unfair and biased against business owners. If I have a business I want to claim everything I can, which could mean I would be bellow the LICO. Why should I not be able to claim everything I can as a business owner?

If the deductions/claims you're making are legitimate, then they should realistically be taken off your income in qualifying for LICO, as those funds are all going into your business so not available to support your parents.

what would happen if you took them to arbitration if they declined your sponsorship because of being below the LICO? The LICO is prejudice against small business owners.

If you didn't meet LICO, got app rejected, and decided to appeal the answer would be easy - you would lose. If you don't meet LICO the app is correctly refused. This is a Yes or No requirement based solely on your CRA tax return, there is no discretion by the visa officer.

 

[Rob_TO]

When I called CIC they told me to apply anyway, but it will be within the officer hands to accept it or not..

Right from the manual: http://www.cic.gc.ca/english/resources/manuals/ip/ip02-eng.pdf

5.31. Discretionary approval of financial requirements is not possible.

17.4. No discretion in calculating minimum necessary income (LICO)
CPC should consider only the sponsor’s and co-signer’s income in evaluating the sponsor’s financial situation. Persons who do not meet LICO cannot sponsor even if they have good employment prospects, extensive assets or relatives willing to provide additional support.
17.5. Sponsor cannot request reassessment
Sponsors who do not meet the LICO cannot request reassessments of their financial situation after giving their undertaking. Income earned after the undertaking has been given cannot be considered. Sponsors who submit a financial evaluation after failing the financial requirement for the undertaking must submit a complete new application to sponsor and pay a new processing fee.
17.6. Determining if the income test is Not Met
If the sponsor’s income is not at least equal to the LICO, or the income is not from a Canadian source and is not included in the Notice of Assessment, the sponsor does not meet the income requirement.

 

[YVR123]

As a business owner, you can also "hire" yourself to perform part of the job to run your business. (e.g. administrative work, accounting, manual labour, manager for a retail location at your shop...etc) Then you will be paid for a salary. Yes. This way you will be paying personal taxes and that's part of being eligible.
BTW why would you still run a business if it's not making money? I think you will still get taxable profit if your business is making money. Good luck.