Hi guys,
Thank you for creating this thread. I have a question - is income compared to the corresponding year's LICO+30% or to the latest figure?
If we provide income for the past 3 years and the application has only ONE field for the minimum income, so there might be a situation when income meets the requirement for the corresponding year, but is below the current year's requirement.
Example: if I submitted an application in Jan 2016, I need to provide NOAs for 2012, 2013 and 2014. LICO+30% Table for 2 people is as follows:
2012: $36,637
2013: $37,708
2014: $38,272
What if my 2013 income is $38,000. It meets the 2013 requirement and fails the 2014 requirement. In the application form there is a place for only 1 number, so it would be $38,272 and when the officer looks at the numbers, he/she can conclude that my 2013 income fails the requirement.
Another question - what is LICO+30% for 2015? Will it be reported on the application forms submitted in Jan 2017?
It is very crucial for me, as my income for 2015 is around $39,500 and will be right on the border of the LICO+30% threshold. I have no problems meeting 2013, 2014 and 2016 requirements (planning to apply in Jan 2017).
Thank you very much for you help.