Income Source for Parents Sponsorship

[paras1991]

Hi All

Will CIC count the interest income from foreign sources (I will report it on my Tax return) towards meeting the income requirements for sponsoring parents?

Thanks

 

[scylla]

No - you can't.

The income must be from Canadian sources.

 

[paras1991]

Even if I show it on my tax return?

 

[Rob_TO]

Income from non-Canadian sources will only count if you are living in Canada while earning the foreign income: http://www.cic.gc.ca/english/resources/manuals/ip/ip02-eng.pdf

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.

 

[paras1991]

Thanks...

 

[soonihope]

Hi All

Will CIC count the interest income from foreign sources (I will report it on my Tax return) towards meeting the income requirements for sponsoring parents?

Thanks

Only income considered by CIC is whatever is mentioned on Line 150 of your NOA