Hello All,
First, so glad to found this community and willingness to help newbies like myself. So, big thank you
I have received an invite to apply for my parents sponsorship. However, I have a question/confusion on the Financial Evaluation for Parents and Grandparents Sponsorship form (IMM 5768) on Question 14 & 17.
My current situation is as follow...
me and my wife(co-signer) have 2 source of income.
Me
1) T4 (day job)
2) Self-employed (small gigs here and there)
Wife
1) T4/T4a
2) Self-employed (healthcare provider)
My question is for the self-employed income.
+ Do we write Gross business Income or we write Net self-employed / business income (Gross income (I believe it's line #164/162 ) - business expenses = Net business income (line # 137/135) . And the total of Line 101 and Line 135 = line # 150 (on the NOA).
I have filled up the form. with best of my ability. And I have used amount from line 137/135 (net business income). Please find image here
https://goo.gl/H3HWsw
Thank you so very much in advance