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?
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.