Income Sponsorship Parents & Grandparents Will Not Increase 30%

[Jasnoor]

I have heard that the parents and grandparents sponsorship interest forms will be available in October. I was on lay off for almost 5 months due to covid- 19. I am afraid that income requirement for 2020 will be less than required. Is there any provision about the sponsor’s income requirement?

[Bavneet (Admin)]

Yes. There are two major exemptions in the income for the tax year 2020 as many sponsors may have been financially impacted by the exceptional circumstances of the COVID-19 pandemic. IRCC is introducing a temporary public policy that will accept the income requirement for the 2020 tax year as per LICO, instead of the LICO plus 30%.

Moreover, the sponsors will also be able to count the regular Employment Insurance Benefits and Special Benefits (CERB) in their income calculations for the year 2020.