Ikecanada said:
. Lamour, I did not include my notice of assessment as I have not filed my taxes for the past few years. I work for an overseas based company as their North American purchasing manager. My salary is been paid at this company overseas headquarters in their local currency. All I attached to my application is my letter of employment from them and my overseas bank statement . How about this ?
Financial requirements
The financial test is needed to prove that sponsors can support sponsored persons for the period of the undertaking. For more details, see Minimum Necessary Income Requirement: Low-Income Cut-Off levels (LICO), section 5.32, Exception to Minimum Necessary Income Requirement, section 5.33 and Low Income Cut-Off and Quebec Income Scale, Appendix F.
Financial resources:
• may include the resources of the sponsor’s spouse or common-law partner if the sponsor’s financial resources are inadequate and the sponsor’s spouse or common-law partner declares their resources as income on their Canadian tax return and they co-sign the undertaking.
• cannot include pooled resources from other relatives to meet the income test.
Financial resources must originate from Canadian sources for the following reasons:
• employment income abroad is not a reliable indicator of future or stable employment in Canada.
• CPC staff cannot easily verify if foreign income can be transferred to Canada.
• converting foreign income into Canadian dollars is resource-intensive.
• in cases of default, collection and litigation, it is easier to recover income from Canadian sources.
For more information, see: Exceptions to the Canadian income rule, section 5.31.
5.31. Exceptions to Canadian income rule
The exceptions to the Canadian income rule are as follows:
• sponsors who commute from Canada to work in the U.S.A. can use their U.S. employment income provided it is declared as income on their Canadian income tax return;
• sponsors living in Canada who declare income from foreign sources on their Canadian tax returns, can use this foreign income to meet the financial requirements for sponsorship.
Discretionary approval of financial requirements is not possible.
