A question about income for parents sponsorship

[demon450]

Hi,
I recently opened my own business(self-employed) and my business income is 2 times the sponsorship requirement. But for tax purpose, I do not gave myself too much salary, a lot of money left on company's account, so I wonder if I'm still qualified or not?

Thanks a lot!

 

[Rob_TO]

Hi,
I recently opened my own business(self-employed) and my business income is 2 times the sponsorship requirement. But for tax purpose, I do not gave myself too much salary, a lot of money left on company's account, so I wonder if I'm still qualified or not?

Thanks a lot!

If the required income doesn't show in your own CRA tax return, then you won't qualify.

 

[scylla]

Hi,
I recently opened my own business(self-employed) and my business income is 2 times the sponsorship requirement. But for tax purpose, I do not gave myself too much salary, a lot of money left on company's account, so I wonder if I'm still qualified or not?

Thanks a lot!

The income has to be claimed in your personal tax return to qualify to sponsor your parents. CIC won't consider your business' return. You'll need to increase the salary you pay yourself to meet LICO.

 

[demon450]

If the required income doesn't show in your own CRA tax return, then you won't qualify.

Thanks a lot!

 

[demon450]

The income has to be claimed in your personal tax return to qualify to sponsor your parents. CIC won't consider your business' return. You'll need to increase the salary you pay yourself to meet LICO.

Thanks a lot!