Minimum income to Sponsor Parents needs to be Gross or Net Income?

[itahead]

Hi All,

I want to sponsor my Parents + 2 dependent siblings. I just came to know that required minimum income is C$46727 for 5 persons (My Self + 4 Family Members).

I am self-employed, and my income is approx 48K for year 2009. If I go with my expenses and deductions I am left with Net Income 42K.

Can any one tell me if the minimum income needs to be Gross Income or Net Income?

Thanks

 

[tgchi13]

Hi All,

I want to sponsor my Parents + 2 dependent siblings. I just came to know that required minimum income is C$46727 for 5 persons (My Self + 4 Family Members).

I am self-employed, and my income is approx 48K for year 2009. If I go with my expenses and deductions I am left with Net Income 42K.

Can any one tell me if the minimum income needs to be Gross Income or Net Income?

Thanks

It should be gross income as shown in the 2010 QC table

http://www.cic.gc.ca/english/information/applications/guides/5196E10.asp

 

[rajmalhotra7]

for self-employed income has to be net income (after deducting expenses). The income you pay taxes on is to be considered. Salaried people pay taxes on Gross Income, so in their case it is groos income for sponsorship. In your case, self-employed, you pay tax on $42K i.e. after deducting expenses and that is considered for sponsorship and not $48K