Income Qualification

[albertchew]

I am self employed and wanted to know if I can use my gross business income to qualify or do I have to use the profits from my business (net income) to meet the criteria for parents sponsorship. I’ve checked the official website but they don’t provide clear direction. Hope I can get some clarification. Thanks.

 

[scylla]

I am self employed and wanted to know if I can use my gross business income to qualify or do I have to use the profits from my business (net income) to meet the criteria for parents sponsorship. I’ve checked the official website but they don’t provide clear direction. Hope I can get some clarification. Thanks.

Short answer is no. Only income from your personal tax return will be accepted. Income from your business / corporation cannot be included.

 

[albertchew]

The business income is reported on my personal tax returns. Its under my name. I don’t file separate taxes for my business nor do I have a corporation. My only concern is whether I can use my gross annual income or do they consider the net income (profits).

 

[scylla]

The business income is reported on my personal tax returns. Its under my name. I don’t file separate taxes for my business nor do I have a corporation. My only concern is whether I can use my gross annual income or do they consider the net income (profits).

Then you're OK. It's gross income that is considered.

 

[YVR123]

In short, line 150 of NOA.