Question 8 - IMM5768 - Minimum necessary income

[yellow_jacket]

Just wondering if I'm calculating it right? Im trying to fill out application to sponsor my parents.

So including myslef there will be a total of 3 people in the application.

So the minimum income would be required is 45,040 + 30% ($13,512) = $58,552

AM i doing it right?

 

[toronto27]

Look at "Federal Income Table for Parents and Grandparents Sponsorship" table on the link below. Numbers listed there are final for years 2012, 2011 and 2010.

http://www.cic.gc.ca/english/information/applications/guides/5772ETOC.asp#completeApplication

 

[yellow_jacket]

Yes, thanks. that's the table that I was using. I guess i don't need to add 30%? the numbers listed are all inclusive.

When would be the 2013 Minimum Income be available? I'm submitting application in 2014...either way I have enough income just confusing why no 2013 numbers available yet.

 

[Rob_TO]

Yes, thanks. that's the table that I was using. I guess i don't need to add 30%? the numbers listed are all inclusive.

When would be the 2013 Minimum Income be available? I'm submitting application in 2014...either way I have enough income just confusing why no 2013 numbers available yet.

Since taxes are not yet done for 2013... you need to submit income proofs for 2010, 2011 and 2012. Each of these years must be at or above the MNI levels in the guide.

If it is just you and your 2 parents (no spouse and no dependents) then your family size is 3.

Note the 5000 cap will most likely fill up very fast. I would be surprised if it isn't reached by tomorrow or very early next week.

 

[yellow_jacket]

excellent, thank you

 

[toronto27]

Yes, thanks. that's the table that I was using. I guess i don't need to add 30%? the numbers listed are all inclusive.

When would be the 2013 Minimum Income be available? I'm submitting application in 2014...either way I have enough income just confusing why no 2013 numbers available yet.

That is correct, you don't need to add 30% to it as it's already added. You can find Low Income Cut-Off (LICO) (table 3) on the link below and you can add 30% to it but the new guide already has updated figure and those figures are final.

http://www.cic.gc.ca/english/information/applications/guides/5196ETOC.asp#5196E9