LICO & Yrs of Tax returns for parental sponsorship

[sidzsdk]

Hi,
I am a permanent resident since Jun 2016.

1. What is the financial limit for sponsoring parents to Canada under the parental sponsorship program – Is it LICO or LICO + 30%?

2. I came to Canada in Jun 2016, my third tax return will be of the year 2018, filed around March 2019. _ can I still apply for parental sponsorship before filing my 2018 tax return or I can apply in Jan 2020 only? If I can apply in 2019, how will I prove the last year’s return etc. given that this application is filed in Jan.

 

[zardoz]

Hi,
I am a permanent resident since Jun 2016.

1. What is the financial limit for sponsoring parents to Canada under the parental sponsorship program – Is it LICO or LICO + 30%?

2. I came to Canada in Jun 2016, my third tax return will be of the year 2018, filed around March 2019. _ can I still apply for parental sponsorship before filing my 2018 tax return or I can apply in Jan 2020 only? If I can apply in 2019, how will I prove the last year’s return etc. given that this application is filed in Jan.

1) LICO + 30% The required figures are published at the start of the year You don't have to do the maths yourself.
2) you will be informed which years are required but it's normally the preceding 3 years. Taxes will already have had to be filed and the NOA available. So, you are looking at 2020, not 2019.

 

[Rob_TO]

Hi,
I am a permanent resident since Jun 2016.

1. What is the financial limit for sponsoring parents to Canada under the parental sponsorship program – Is it LICO or LICO + 30%?

2. I came to Canada in Jun 2016, my third tax return will be of the year 2018, filed around March 2019. _ can I still apply for parental sponsorship before filing my 2018 tax return or I can apply in Jan 2020 only? If I can apply in 2019, how will I prove the last year’s return etc. given that this application is filed in Jan.

1. Read the parents sponsorship guide. They have the LICO amounts specifically for parents which already includes the extra 30%.

2. You are just entering lottery in January, you don't need any income proof at this point. So if you enter lottery in Jan 2019, it means your income will qualify for 2016,2017,2018. You won't need 2018 tax return unless you win a lottery spot, and by the time apps are actually submitted later in the year. This would also mean your 2016 income meets full LICO amount even though you just arrived in June of that year.

 

[zardoz]

See https://www.canadavisa.com/necessary-income-levels-for-family-sponsorship.html

The Minimum Necessary Income (MNI) is Low Income Cut Off (LICO) +30%

(stupid auto-correct)