LICO for 2018

[Igado]

Hi everyone, i am a new member of this forum and been reading a lot lately but couldn't find the answer to my queries. I hope someone can enlighten me regarding sponsorship issues and LICo.

I am planning to sponsor my parents in 2018 and hopefully will be chosen and given the chance to apply. I am presently pregnant and will give birth on December 2017 this year. We are a family of three right now; me, my husband and my daughter but will be a family of four including the new baby this coming December 2017. I am planning to sponsor my mom, dad and younger brother. Before the baby arrive i meet the LICO for a family of 6 people for 2015 and 2016.

Year 2015- 6 people
Year 2016-6 people
Year 2017-7 people (with new baby)

My question is if apply for family sponsorship in 2018, are they goin to ask the LICO for 7 people in the year 2015 and 2016? Because if this is the case i will be shortfall with my total income and will not meet the LICO on those years. Or are they only counting 6 people for 2015 and 2016 coz the baby hasnt arrive yet and for 2017 they will start to count 7 people. I hope my explanation is clear, please feel free to ask and i am hoping that someone can help me regarding this matter. Thank you in advance.

Additional question if i apply for 2018, are they going to ask for 2017,2016 and 2015 notice of assessment or is it going to be 2016,2015 and 2014 notice of assessment? Please help.
Thank you again.

 

[Rob_TO]

My question is if apply for family sponsorship in 2018, are they goin to ask the LICO for 7 people in the year 2015 and 2016?

Yes. The family size at time you actually submit the application, is the family size you need to use for all 3 previous years.

Can your husband be a co-signer, and has income from past 3 years to allow you to meet LICO for family size of 7?

Additional question if i apply for 2018, are they going to ask for 2017,2016 and 2015 notice of assessment or is it going to be 2016,2015 and 2014 notice of assessment? Please help.
Thank you again.

Nobody knows, until IRCC releases the official rules for 2018 parents sponsorship program.

They will only accept 2015,2016,2017 income if 2017 NOAs will be ready by the time they start accepting apps. This may have been a special situation due to the long delay that happened this year. It's quite possible they will demand income from 2014,2015,2016 to apply in 2018.

 

[scylla]

Agreed with Rob_TO. You need to meet LICO for a family of 7 for all three years.

 

[Igado]

Yes. The family size at time you actually submit the application, is the family size you need to use for all 3 previous years.

Can your husband be a co-signer, and has income from past 3 years to allow you to meet LICO for family size of 7?



Nobody knows, until IRCC releases the official rules for 2018 parents sponsorship program.

They will only accept 2015,2016,2017 income if 2017 NOAs will be ready by the time

Yes my husband will co sign for me but will not meet the LICO if they will count 7 people for 2015 and 2016. This is so sad and will wait for another 3years to meet the income.

 

[canuck_in_uk]

Yes my husband will co sign for me but will not meet the LICO if they will count 7 people for 2015 and 2016. This is so sad and will wait for another 3years to meet the income.

Unfortunately, yes, you will need to wait 3 more years, assuming that you are able to meet LICO in 2018 even with taking maternity leave and/or parental leave. Otherwise, you are looking at 2019, 2020 and 2021 as qualifying years, with 2022 as the earliest you could apply for the lottery. It could then take years to be actually be chosen from the lottery.

Note that depending on how old your brother is, he may age out before you qualify to sponsor again.

 

[Rob_TO]

What age is your brother? Note that as soon as he reaches age 22 he is no longer considered a dependent so at that time your family size would decrease by 1, and may qualify you sooner.
Of course this will not help your brother at all, he would need to look at immigrating independently in this case.

 

[Igado]

What age is your brother? Note that as soon as he reaches age 22 he is no longer considered a dependent so at that time your family size would decrease by 1, and may qualify you sooner.
Of course this will not help your brother at all, he would need to look at immigrating independently in this case.

My brother is 16years old now and will be 17 in Jan.

Rob, is there any way that I can add the amount i get from my group insurance which i failed to include when i filed my income tax last year. This amount will be a great help to add on my 2016 LICo, i only need 3k to reach the cut off. I just found out today when I was looking at all my documents that I failed to include the money I withdrawn from group insurance because I change my company. But the problem is the filing of tax is already over, is this possible though? Please advice. Thanks!

 

[YVR123]

My brother is 16years old now and will be 17 in Jan.

Rob, is there any way that I can add the amount i get from my group insurance which i failed to include when i filed my income tax last year. This amount will be a great help to add on my 2016 LICo, i only need 3k to reach the cut off. I just found out today when I was looking at all my documents that I failed to include the money I withdrawn from group insurance because I change my company. But the problem is the filing of tax is already over, is this possible though? Please advice. Thanks!

If you found mistake with the tax return that you filed, you can always amend it. I think it's called Adjustment Request.
If you don't know how to do it, consult an accountant.

 

[Igado]

If you found mistake with the tax return that you filed, you can always amend it. I think it's called Adjustment Request.
If you don't know how to do it, consult an accountant.

Thank you so much. I am talking to my accountant now and his going to do the adjustment for my tax. Thanks a lot I appreciated all your help and input.

 

[Rob_TO]

My brother is 16years old now and will be 17 in Jan.

Rob, is there any way that I can add the amount i get from my group insurance which i failed to include when i filed my income tax last year. This amount will be a great help to add on my 2016 LICo, i only need 3k to reach the cut off. I just found out today when I was looking at all my documents that I failed to include the money I withdrawn from group insurance because I change my company. But the problem is the filing of tax is already over, is this possible though? Please advice. Thanks!

Not sure if group insurance claim counts as income for LICO purposes? If it does though, it is very easy to do what's call a re-assessment of previous years taxes.

Keep in mind you'll need to meet LICO for family size of 7 for all 3 preceding tax years, not just 2016.

 

[Igado]

Not sure if group insurance claim counts as income for LICO purposes? If it does though, it is very easy to do what's call a re-assessment of previous years taxes.

Keep in mind you'll need to meet LICO for family size of 7 for all 3 preceding tax years, not just 2016.

Im not sure as well if group RRSP can be added as income for LICO. I hope someone can share their thoughts regarding this matter. Thanks again!

 

[Igado]

Im not sure as well if group RRSP can be added as income for LICO. I hope someone can share their thoughts regarding this matter. Thanks again!

This the only explanation i could find online. Is the group RRSP fall under Old Age Security Act?


The sponsor’s income and the co-signer’s income, if applicable, is the income earned as reported in the NOA or Option C printout, not including:

1. any provincial allowance received by the sponsor for a program of instruction or training;
2. any social assistance received by the sponsor from a province;
3. any financial assistance received by the sponsor from the Government of Canada under a resettlement assistance program;
4. any amounts paid to the sponsor under the Employment Insurance Act, other than special benefits;
5. any monthly guaranteed income supplement paid to the sponsor under the Old Age Security Act; and
6. any Canada child tax benefit paid to the sponsor under the Income Tax Act.

 

[scylla]

Monthly guaranteed income supplements paid under the Old Age Security Act refer to retirement payments. You haven't received retirement payments. So you can't claim any income under item 5 above.

 

[Igado]

Monthly guaranteed income supplements paid under the Old Age Security Act refer to retirement payments. You haven't received retirement payments. So you can't claim any income under item 5 above.

Hi thank you for the reply, im not claiming any income under the old age security act. I am trying to confirm and ask any thoughts from everyone who is familiar with Group RRsp if it can be counted as income to meet the LICO. Thanks again!

 

[mikeymyke]

Also dont forget you have to meet the income requirements for family of 7, for the last 3 years, not just 2016. Even if you successfully amended 2016 income, you'd still fall short in the other years