Super Visa - Please help with my questions

[Cheff88]

Hello Wonderful people,
I am applying for super visa for both of my parents.

** Regarding LICO -
My family size is 6 ( wife & 4 kids) (including parents will be 8) -( current CRA cut off around 78k for 8 people)
My current salary @ 80k per annum - My last year NOA is 71k
My salary got increased this year & I have one rental property (income around 15.5k)

My question is am I eligible to apply with my current financial scenario for LICO?

Website says the following
Submit one of the following documents:

• a copy of the most recent notice of assessment
  • If the child or grandchild does not have a paper copy of their notice of assessment on file, they can view and print their tax returns as well as other personal tax information using the Canada Revenue Agency My Account online service.
• a copy of the child’s or grandchild’s most recent T4 or T1
• an original letter from the child’s or grandchild’s employer stating their job title, job description and salary
• the child’s or grandchild’s employment insurance pay stubs, including
  • A letter from an accountant confirming the child’s or grandchild’s annual income, if they are self-employed.
  • Proof of other sources of income (pension statement, investments, etc.).

Any experts please help me with my question
TIA for your time

 

[canuck78]

Hello Wonderful people,
I am applying for super visa for both of my parents.

** Regarding LICO -
My family size is 6 ( wife & 4 kids) (including parents will be 8) -( current CRA cut off around 78k for 8 people)
My current salary @ 80k per annum - My last year NOA is 71k
My salary got increased this year & I have one rental property (income around 15.5k)

My question is am I eligible to apply with my current financial scenario for LICO?

Website says the following
Submit one of the following documents:

• a copy of the most recent notice of assessment
  • If the child or grandchild does not have a paper copy of their notice of assessment on file, they can view and print their tax returns as well as other personal tax information using the Canada Revenue Agency My Account online service.
• a copy of the child’s or grandchild’s most recent T4 or T1
• an original letter from the child’s or grandchild’s employer stating their job title, job description and salary
• the child’s or grandchild’s employment insurance pay stubs, including
  • A letter from an accountant confirming the child’s or grandchild’s annual income, if they are self-employed.
  • Proof of other sources of income (pension statement, investments, etc.).

Any experts please help me with my question
TIA for your time

The rental income should be included in your NOA unless you only started earning rental income this year. NOA is the preferred proof of LICO and since you don’t meet LICO for last year there is a good chance you will be refused. Salary is not what counts for LICO it how much you earned this year. Did you earn 80k this year? Is the rental income gross or net? Would personally wait until you file your taxes this year to apply. The LICO amount was decreased for 2 years due to Covid but is likely going back to normal plus an increase this year. I would be looking back at LICO amounts from 2019 and 2020 to anticipate what the LICO amount will be if there is no temporary Covid reduction. Will likely be around 90k+.