PGP 2020

[robertp]

PGP-2020 tracker link:
https://docs.google.com/spreadsheet...EaMbWTgbHtvxzWYedaojGh0bg/edit#gid=1345494546

 

[nayr69sg]

hello fellow forum members! It seems that it has now been established based on my review of all the information that I can use 2018,2019 and 2020 for THIS years PGP given i win the lottery. My question is how do i ensure they use my (2018,2019,2020) income if i just tick the box saying they can have access to my CRA account? my 2017 income wasn't enough

They said i can submit 2020 NOA later but in the meantime wont they just consider 2017 2018,2019?

Is it better to submit manual copies of 2018 and 2019 and then submit 2020 once its available?

going by previous years lottery, the EOI form just asks you to tick the box saying you declare you meet the income requirements.

There is no link to CRA or anything like that. You just tick off the box.

Just get a spot first then worry about whether you qualify or not. 2020 will be different because the rules are not clear at all.

Even then even if it were clear, many still just submit and EOI without checking if they qualify or not.

I can bet you money that after the 2020 draw is over, people will come to this forum and say things like "I just landed in June 2020. I applied for PGP and won a spot in the lottery. Do I qualify?"

LOL!

 

[mintmint]

Hello all, does anyone know if business income will be counted for sponsor parents? I only see people talk about line 150 in personal NOA, but what about business income, I mean corporation/LLC kind of business. Thanks

 

[nayr69sg]

Hello all, does anyone know if business income will be counted for sponsor parents? I only see people talk about line 150 in personal NOA, but what about business income, I mean corporation/LLC kind of business. Thanks

Nope.

You need your personal income NOAs. Not corporate/LLC/professional corporation income.

Of course you can pay yourself enough from the corporate accounts so that your personal income is up to the levels required. But doing it retrospectively would have hair in it.

 

[scylla]

Hello all, does anyone know if business income will be counted for sponsor parents? I only see people talk about line 150 in personal NOA, but what about business income, I mean corporation/LLC kind of business. Thanks

No - it won't. Only income you claim in your personal tax return.

 

[mintmint]

No - it won't. Only income you claim in your personal tax return.

even I am the owner? so personal is the only way

 

[nayr69sg]

even I am the owner? so personal is the only way

yeah even if you are the owner.

It's just the rules. I guess if you declare $X on your personal then you pay the according income taxes.

Whereas if you don't declare it personally then it is money in the corporation and you only pay the corporate income taxes on that income. The corporation is an entity itself and it isn't the corporation sponsoring your parents for PGP.

So plan it well. make sure you pay yourself and your spouse (if applying co-applicant) enough to meet the LICO requirements for 3 years so that you qualify.

After your parents land you can go back to not paying yourself any personal income if you wish.

 

[scylla]

even I am the owner? so personal is the only way

Only personal income taxes are accepted for LICO. Yes, even if you are the owner. This isn't your income. This is your corporation's income.

 

[hjstannum]

I have an inquiry regarding what is asked for on the EOI form. I applied last year for my parents (2) which is in progress, and this year wish to apply for my grandmother. I am a single individual here in Canada. I have gotten DM1 already on the 2019 app, however DM2 is pending. Will I answer the following like this?

• the number of people in your immediate family (you, your spouse or partner and dependent children) - 1
• the total number of people you already sponsored and are still financially responsible for - 2
• the total number of people you want to sponsor, including their dependants (spouse or partner, and children) - 4

Thanks for all your insights.

 

[zain92]

we’ll accept your application if you submit your NOAs for the 2018 and 2019 tax years, and submit your 2020 NOA as soon as it’s available.

this is directly from IRCC website

Please provide link

 

[babybenz]

Hello all, does anyone know if business income will be counted for sponsor parents? I only see people talk about line 150 in personal NOA, but what about business income, I mean corporation/LLC kind of business. Thanks

Check with your accountant about the type of the company you own. There are types that the company income is your income (proprietary or something...) while a lots more are a separated entity itself
Assuming your company is LLC or Inc or LTD, then it is a separated entity thus, its income is not your income.
But if you are the owner, you can pay yourself a monthly or yearly salary upon which, you will have to file a tax return
By then, your income will be line 150 of the NOA, which will be used to qualify for the income requirement
Hope this help

 

[babybenz]

Aspiring Canadian said:
we’ll accept your application if you submit your NOAs for the 2018 and 2019 tax years, and submit your 2020 NOA as soon as it’s available.

this is directly from IRCC website

Please provide link

It's mentioned here:
https://www.canada.ca/en/immigratio...ip/sponsor-parents-grandparents/selected.html

 

[vicwest]

Question:

What's the correct information if both spouse intend to sponsor their parents?

• the total number of people you already sponsored and are still financially responsible for - ?
• the total number of people you want to sponsor, including their dependants (spouse or partner, and children) - ?

 

[babybenz]

Question:

What's the correct information if both spouse intend to sponsor their parents?

• the total number of people you already sponsored and are still financially responsible for - ?
• the total number of people you want to sponsor, including their dependants (spouse or partner, and children) - ?

If I am not mistaken, this should be
In both application, count both spouses + all children + parent(s) of EACH spouse

 

[JagSD11]

So this may be hinting that they will use 2018, 2019 and 2020 NOA. BUT we do not know for sure yet.
Wait for the rule to be offically posted. There is NOTHING you can do to panic.

Just be prepared and wait.

Does any one else notice that the rules were taken down soon after they published it on their website? Its again displaying that the rules are not yet finalised for MNI 2020.