2019 Parent Sponsorship Income related question!!!

[ASJ]

Hello Experts,

I need answer to a confusion i have, Please help.
My 2016 income is short of CAD1000.00 (One thousand) to be eligible for me to sponsor my parents.

Can i just do a T1 adjustment (change my income to add CAD1000 in 2016 income) to be reassessed which will bump my 2016 income by CAD1000 and can then become eligible to sponsor my parents?
I will pay the taxes on this CAD1000.00.

CRA will issue me a notice of reassessment which will show my updated income for 2016.

Please suggest if someone has done this in past?

Many thanks,
ASJ

 

[kcward7]

Hello Experts,

I need answer to a confusion i have, Please help.
My 2016 income is short of CAD1000.00 (One thousand) to be eligible for me to sponsor my parents.

Can i just do a T1 adjustment (change my income to add CAD1000 in 2016 income) to be reassessed which will bump my 2016 income by CAD1000 and can then become eligible to sponsor my parents?
I will pay the taxes on this CAD1000.00.

CRA will issue me a notice of reassessment which will show my updated income for 2016.

Please suggest if someone has done this in past?

Many thanks,
ASJ

Would that not be committing tax fraud?

 

[nayr69sg]

Hello Experts,

I need answer to a confusion i have, Please help.
My 2016 income is short of CAD1000.00 (One thousand) to be eligible for me to sponsor my parents.

Can i just do a T1 adjustment (change my income to add CAD1000 in 2016 income) to be reassessed which will bump my 2016 income by CAD1000 and can then become eligible to sponsor my parents?
I will pay the taxes on this CAD1000.00.

CRA will issue me a notice of reassessment which will show my updated income for 2016.

Please suggest if someone has done this in past?

Many thanks,
ASJ

LOL! that's fraud!!!!!

 

[Wonderland_1010]

Hello Experts,

I need answer to a confusion i have, Please help.
My 2016 income is short of CAD1000.00 (One thousand) to be eligible for me to sponsor my parents.

Can i just do a T1 adjustment (change my income to add CAD1000 in 2016 income) to be reassessed which will bump my 2016 income by CAD1000 and can then become eligible to sponsor my parents?
I will pay the taxes on this CAD1000.00.

CRA will issue me a notice of reassessment which will show my updated income for 2016.

Please suggest if someone has done this in past?

Many thanks,
ASJ

Don't do it. Unless you want CRA to come after you for tax fraud and also IRCC emailing you about misrepresenting your income.

 

[ASJ]

Would that not be committing tax fraud?

I will pay tax on that CAD1000. How can that be tax fraud?

 

[kcward7]

I will pay tax on that CAD1000. How can that be tax fraud?

Because you're falsely reporting income??? Good lord. You're prepared to lie about your income but you think it's ok because you will pay tax on it?

 

[ASJ]

LOL! that's fraud!!!!!

How? I will be paying tax on 1000 then how can that be a fraud?

 

[Wonderland_1010]

How? I will be paying tax on 1000 then how can that be a fraud?

Are you declaring $1000 which you did not earn through employment or investments but just for the sake of parents sponsorship? Then that is tax fraud.

If you do declare, CRA will want to see proof of the $1000 earned.

 

[YVR123]

Because you're falsely reporting income??? Good lord. You're prepared to lie about your income but you think it's ok because you will pay tax on it?

Or falsely hiding your income back in 2016 that should have been reported. It may trigger tax audit previous years. So make sure you have proofs and document for ALL the tax years. You may need to provide receipts. (you are supposed to keep all up to 6 years to CRA audit )

 

[Wonderland_1010]

I also would think the IRCC will stop processing or straight out refuse your parents application if you are under CRA audits as well.

 

[ASJ]

Thanks everyone. I think i have the answer. I will NOT do this and wait for me to be eligible to sponsor my parents in future.

Appreciate all your replies.

Many thanks.