parents sponsership joine here

[Luck786]

I think the situation here is Suin has 80 K Gross Income from farming.
Then she deducts expenses like telephone bills pertaining to farming,vehicle usage pertaining to farming, deductible losses and other expenditures from Gross Income and reaches at Net Income from Farming.
Then may be they rent out some farming machinery to other farmers and after deducting all depreciation on it or expenses they get Net rental Income.

Now this happens before Line 150 and they add these two or more Net Incomes and get Total Income.(Line 150)Here they are where we report our employment Income.After this ours and their Income is same way deducted and credited.

Now the Question is Are they going to mention Gross Income Line 168 or Total Income Line150 like us.

 

[Suin]

Do you see these line numbers

Self-employment income
Lines 135 to 143 - Net
Lines 162 to 170 - Gross

Yes, I do.

 

[Suin]

It's weird, but the lines I can see are from 101 to 150, and then it starts from 300

 

[Suin]

Also,one more point - it's just impossible to assess self-employed people by line 150, as in our case, in 2010 that line reads only 19K - here is the question: how a family of 7 can live on that money all year? and we definitely are not starving and can afford buying farming machinery, tools and go on vacations.
something is really wrong.

 

[rajmalhotra7]

Yes, I do.

Please post the content of lines.
Lines 135 to 143 - Net
Lines 162 to 170 - Gross

I am not an accountant, but I searched on internet for net income of a self-employed and I got those line numbers.

 

[Shuga]

Please post the content of lines.
Lines 135 to 143 - Net
Lines 162 to 170 - Gross

I am not an accountant, but I searched on internet for net income of a self-employed and I got those line numbers.

that's correct... and Sum of lines from 135 to 143 (Net self employed income) is inlcuded into calculation of line 150 - Total Income...
it's all in tax return form:

http://www.cra-arc.gc.ca/E/pbg/tf/5006-r/5006-r-11e.pdf

 

[Suin]

thank you guys for all your inputs.

line 168 - 85K
line 141 - 22K

 

[rajmalhotra7]

that's correct... and Sum of lines from 135 to 143 (Net self employed income) is inlcuded into calculation of line 150 - Total Income...
it's all in tax return form:

http://www.cra-arc.gc.ca/E/pbg/tf/5006-r/5006-r-11e.pdf

Following is evident from the form:

Total Income is Line 150
Total income is calculated after adding net incomes and NOT gross. So, gross income line 168 is not even in calculation, but line 141 is considered.
Net income is Line 236 (add expenses and then subtract the total from total income)

Correction: Wherever I mentioned Gross Income in my posts today, it should be Total Income. In the language of tax, gross and total incomes are 2 different things (lines 168 and 150 respectively).

Suin - What is the amount in Line 150 and Line 236? Look in the same form where you saw Line 168 and Line 141

 

[user828]

Raj,

If you remember, I spoke abt a user "febreet" on Canadian Desi, who had his PPR request for Seattle, but ironically his folks were back in India. He emailed Ottawa and requested file be xfered to India instead, they replied within 2 days. So, if they ever pass your file to India, you could perhaps request for Seattle too

 

[rajmalhotra7]

Raj,

If you remember, I spoke abt a user "febreet" on Canadian Desi, who had his PPR request for Seattle, but ironically his folks were back in India. He emailed Ottawa and requested file be xfered to India instead, they replied within 2 days. So, if they ever pass your file to India, you could perhaps request for Seattle too

Thanks user828... what was the reply from Ottawa?

 

[Suin]

Following is evident from the form:

Total Income is Line 150
Total income is calculated after adding net incomes and NOT gross. So, gross income line 168 is not even in calculation, but line 141 is considered.
Net income is Line 236 (add expenses and then subtract the total from total income)

Correction: Wherever I mentioned Gross Income in my posts today, it should be Total Income. In the language of tax, gross and total incomes are 2 different things (lines 168 and 150 respectively).

Suin - What is the amount in Line 150 and Line 236? Look in the same form where you saw Line 168 and Line 141

According to our Option C line 236 shows 1000 less than the line 150.

Also in the Instructions to the Financial Evaluation Form they say:
"If you are unable to obtain and produce an “Option-C Printout” or if your income reported in this document is less than your minimum necessary income, you will need to provide documentation establishing the amount of income you earned over the period of 12 months preceding the date of your application, such as: pay stubs, if you are employed; a statement of business of activities, if you are self-employed; bank statements, if you have received interest income; statements or certificates, if you have other sources of income (investment, rental, pension, special benefits paid under the Employment Insurance Act, etc.). Your spouse or common-law partner will need to provide similar documentation if he or she is co-signing the undertaking and does not produce an “Option-C Printout” or if the income reported on your spouse or common-law partner’s “Option-C Printout” combined with your available income is less than your minimum necessary income."

 

[Shuga]

Also in the Instructions to the Financial Evaluation Form they say:
"If you are unable to obtain and produce an “Option-C Printout” or if your income reported in this document is less than your minimum necessary income, you will need to provide documentation establishing the amount of income you earned over the period of 12 months preceding the date of your application, such as...

yes... and then instructions to evaluation form say:

If you were self-employed, give details about your business in section C, including your personal business income. Personal business income is defined as the net income earned (or loss incurred) and reported to CRA from activities conducted for profit from a sole proprietorship, partnership or unincorporated business. This would include professions,trades and businesses such as small retail outlets and restaurants. Income from other personal self-employment endeavours such as farming, fishing, commission sales, consulting and child care that are conducted for profit should also be included.

http://www.cic.gc.ca/english/pdf/kits/guides/5482E.PDF

so it's the same income - Net income for Self-employed... calculation for 12 months just gives you an option to count months from the year for which you don't have Option C yet...

for example, when i applied in mid 2008 i did not have option C for 2008... and my option C for 2007 was too low... so i showed that 12 months (from mid 2007 to mid 2008) are enough... but now my option C from 2008 confirms that...

 

[Jaysidhu]

hello kandel, thanx for adding in spreadsheet...document request date 25 nov 2011

 

[user828]

Thanks user828... what was the reply from Ottawa?

They complied

See Page 32

http://www.canadiandesi.com/read.php?TID=32258&page=32

 

[kandel]

hello kandel, thanx for adding in spreadsheet...document request date 25 nov 2011

Yeh i thought soo...ur welcome, keep your timeline up do date