I plan on sponsoring my grandmother to come live with me once I'm a PR. I know I need to show income for the previous 3 tax years to sponsor her. The first of those tax years (2021), I'll receive a signing bonus from my new job in August 2021, but I won't actually start working yet until January 2022. That signing bonus is $55k, so it is above the minus threshold for income per year. Will I be able to use 2021 as one my three tax years if my only income that year is that one-time signing bonus from the new job (above min. threshold for yearly income)?
The signing bonus gets taxed as income, so it will be on my CRA record, but I'm not sure if it will not count since it's not monthly income, it's a one time payment from the company. In case it matters, my income will be high (>$200k) for 2022 and 2023 so I will definitely be able to show that my income is sufficient. But I'm worried that I won't be able to count 2021 and was hoping to get your opinion.
(I'm asking now instead of later because I also have the option of starting the new job September 2021 in which case I will 100% be able to count 2021 as one of the 3 tax years, but I'd much rather start in January 2022 and have the chance to take a break after graduation.)
The signing bonus gets taxed as income, so it will be on my CRA record, but I'm not sure if it will not count since it's not monthly income, it's a one time payment from the company. In case it matters, my income will be high (>$200k) for 2022 and 2023 so I will definitely be able to show that my income is sufficient. But I'm worried that I won't be able to count 2021 and was hoping to get your opinion.
(I'm asking now instead of later because I also have the option of starting the new job September 2021 in which case I will 100% be able to count 2021 as one of the 3 tax years, but I'd much rather start in January 2022 and have the chance to take a break after graduation.)
