Parents Sponsorship

[jas11]

Hi,

Does anyone know if in the income requirements, is it only the personal income that is counted or my business income can also be included to meet the requirements?

 

[canuck_in_uk]

Hi,

Does anyone know if in the income requirements, is it only the personal income that is counted or my business income can also be included to meet the requirements?

Line 150 of your return.

 

[jas11]

In business income there is no line 150 - it is only in my personal Notice of Assessment

 

[jas11]

I am talking about Line 300 on T2, can that be included?

 

[scylla]

I am talking about Line 300 on T2, can that be included?

No - only your personal income.

 

[canuck_in_uk]

I am talking about Line 300 on T2, can that be included?

As I said, line 150 on your return. Anything else, including your corporation income, doesn't count.

 

[canuck78]

Business owners have to plan in advance because they pay themselves the minimum amount required to save on taxes. That hurts them when applying for PGP. Would wait and see what the actual application process is for this year before you start worrying.