Net income

[sham_visa]

For sponsorship of my new born baby,
Am supposed to show net income in sponsorship application.

In the below form,
http://www.cic.gc.ca/english/pdf/kits/forms/IMM5481E.pdf

Section 3 talks about net personal income.

Am self employed, and have share in my business.

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Am I supposed to project my business bank account income? Or personal bank account income?

 

[Wakki]

as self employed, use the annual income you declared in your CRA tax filing.

 

[sham_visa]

as self employed, use the annual income you declared in your CRA tax filing.

I declared income for my personal bank account and my business account.. both
To CRA...

So, which income to project to ircc?

 

[Wakki]

if you are self employed....you may have filed tax personal tax and corporate tax.....use the annual income from your personal tax filing.

 

[sham_visa]

if you are self employed....you may have filed tax personal tax and corporate tax.....use the annual income from your personal tax filing.

Ok I will project annual income from personal tax filing(done for calendar year 2017), but.....


Is there minimum amount expected by IRCC for sponsorship?

 

[Wakki]

You can become a sponsor if you are:
Note: In most cases, there is no low-income-cut-off (LICO) for spouse, partner or dependent child sponsorships.