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1. "sufficient financial resources at your disposal over the past twelve months and that you will continue to have those resources available to you for the duration of the undertaking"
2. "Basic annual income required"
My situation
Will start a new job in June 2020.
Salary will be 100k+
Question
1. Can I sponsor them in Jan 2021 (or after during PGP 2021) with just 6 months of working
My reasoning is :
1. My annualized salary is above 100k
2. Even with 6 months of working in 2020, I will get 50k+ gross income in the bank
1. "sufficient financial resources at your disposal over the past twelve months and that you will continue to have those resources available to you for the duration of the undertaking"
2. "Basic annual income required"
My situation
Will start a new job in June 2020.
Salary will be 100k+
Question
1. Can I sponsor them in Jan 2021 (or after during PGP 2021) with just 6 months of working
My reasoning is :
1. My annualized salary is above 100k
2. Even with 6 months of working in 2020, I will get 50k+ gross income in the bank
Annualized salary is irrelevant. Whether you meet LICO or not is determined by now much income you actually eared in 2020.
So the question will be - how much money will you actually have earned in 2020 (i.e. income that was declared in your Canadian tax return). If this is sufficient to meet LICO (even with only starting work in June), then you are good. If not, you'll need to wait another full year before you will qualify.
@syclla , my question is for Quebec. "past twelve months" implies a rolling period. As an example, can I sponsor in October 2020 when I stopped working in August 2019 BUT still am over LICO in my 2019 tax returns ?
@syclla , my question is for Quebec. "past twelve months" implies a rolling period. As an example, can I sponsor in October 2020 when I stopped working in August 2019 BUT still am over LICO in my 2019 tax returns ?
Yes - LICO is a rolling requirement. You must meet the requirement at the time you sponsor (meaning if you sponsor in 2020, you must meet the requirement in 2019). However you must also meet LICO on an ongoing basis while the application is being processed. So, for example, if the application takes two years to process, you must also continue to meet LICO in 2020 and 2021 to qualify.
@scylla, so in my example above I would need to meet the income requirement from September 30 2019 - September 30 2020 to sponsor on October 1st, 2020 ? How can that period be proven through a 2019 tax return ? Won't that get proven with paystubs instead since it is in the somewhere middle of the calendar year ?
@scylla, so in my example above I would need to meet the income requirement from September 30 2019 - September 30 2020 to sponsor on October 1st, 2020 ? How can that period be proven through a 2019 tax return ? Won't that get proven with paystubs instead since it is in the somewhere middle of the calendar year ?
The income requirements are based on the calendar / tax year and you provide your CRA notice of assessment as proof you have made enough income in the year.
To sponsor in 2020, you must have made enough income Jan 1 2019 to Dec 31 2019.
You must also meet LICO from Jan 1 2020 to Dec 31 2020. And potentially also for 2021 if the processing of the application takes that long.
They must enter in Quebec. The whole point of the program is to reunite with children in Quebec. If you no longer live in Quebec that will be an issue.
Hi, I have a related question regarding documents for CSQ application, was wondering if anyone could help me with this.
My pay is divided into base salary(100k+) + bonus (15% normally) + equity (company stocks which vest every month).
In my employment letter, my employer normally only put the base salary + bonus, which is still meets the minimum income requirement comfortably.
But in the pay slip, it has my total year income, which at this point is already twice my base salary (because of the company stocks that I am getting). I dont know if that looks weird.. Im wondering if I should attach an explanation letter or something? The company stock shows up as RSUs (restricted stock units) in the pay slip, and Im not sure if the immigration officers are familiar with that term, since most Canadian companies dont issue RSUs..
Many thanks, any suggestions would be appreciated, thanks.
I have another question as well. It seems that I need to submit all of my past year's T4 and RL1 (and I assume T4A and any other slips to prove income) as supporting documents.
I started working mid-way last year, I was a fulltime student before than (but i did meet the income requirement for the last couple of years, since I worked partime).
My employment income for 2020 along is sufficient to meet the minimum income requirement. But I also received a fellowship (scholarship, not a part of my employment income) earlier in the year for about 46k, however, I do not have a T4A form for that, because the scholarship is issued by a company based in the US. The income is reported in my tax returns. So Im wondering what I should include as a proof of income for the scholarship? I have the fellowship winning letter and the winners (fellows) are also found on the company website, so I guess this would be sufficient, although I did not have a T4A issued for the fellowship?
I have another question as well. It seems that I need to submit all of my past year's T4 and RL1 (and I assume T4A and any other slips to prove income) as supporting documents.
I started working mid-way last year, I was a fulltime student before than (but i did meet the income requirement for the last couple of years, since I worked partime).
My employment income for 2020 along is sufficient to meet the minimum income requirement. But I also received a fellowship (scholarship, not a part of my employment income) earlier in the year for about 46k, however, I do not have a T4A form for that, because the scholarship is issued by a company based in the US. The income is reported in my tax returns. So Im wondering what I should include as a proof of income for the scholarship? I have the fellowship winning letter and the winners (fellows) are also found on the company website, so I guess this would be sufficient, although I did not have a T4A issued for the fellowship?
Thanks, I see. I guess you are saying that I do not need to submit T4A (which is for tax-free scholarships) in any case, I only needed to submit T4s anyway, because MIFI mostly cares about employment income, so I only have to submit T4 and RL1s?
Thanks, I see. I guess you are saying that I do not need to submit T4A (which is for tax-free scholarships) in any case, I only needed to submit T4s anyway, because MIFI mostly cares about employment income, so I only have to submit T4 and RL1s?
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