my mum says that they got a text message from VFS Global Singapore that their passports are ready for pickup.
I guess the next step is to do their landing.
Question. With regards to the requirement to maintain the LICO amounts during tax filing, how long does one need to do that? All the way till the parents do their landing? Beyond that?
The reason why I ask is I pay myself a salary from my corporation. And I don't need the money for my living. I would prefer to keep my money earned in my corporation. Any income I pay to myself is subject to income taxes. Hence the less I pay myself the less personal income taxes I pay.
Wonder how long I need to maintain the line 150 on my T1 for the purposes of sponsoring my parents.
I guess the next step is to do their landing.
Question. With regards to the requirement to maintain the LICO amounts during tax filing, how long does one need to do that? All the way till the parents do their landing? Beyond that?
The reason why I ask is I pay myself a salary from my corporation. And I don't need the money for my living. I would prefer to keep my money earned in my corporation. Any income I pay to myself is subject to income taxes. Hence the less I pay myself the less personal income taxes I pay.
Wonder how long I need to maintain the line 150 on my T1 for the purposes of sponsoring my parents.