Financial Information for Parents Sponsorship


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reg828   
Member since: May 10
Posts: 29
Location:

Post ID: #PID Posted on: 26-05-11 21:48:39

I put in my sponsorship papers in March, 2008, where my 2007 income was enough ( 37K ) for 3 people ( me and my parents ). My income in 2008, 09, 10 have been above 40K.

As we all know, the current time is 44 months and will keep increaasing but I am hoping some time next year the applicaton wil be approved. Now this year ( Jan 2011-June 2011 ) , my income has been around 20K and I will be switching jobs where I won't get full time work right away and I am afraid I might be short 3-4K for the year 2011, now assuming the approval time is around 2012, do they check 2011 income as well? or they go by what we originally produced in 2008?

Anyone knows for sure



freakoutguy   
Member since: Sep 06
Posts: 666
Location: GTA

Post ID: #PID Posted on: 27-05-11 10:16:59

If your income was well above the cut-off mark, say around 100K and if they see that you have a stable job, then they most probably will not check again in 2012. However, since, you were borderline in 2008 and knowing that they want to delay parental sponsorships or find an excuse to reject, the chances are that they may ask you to prove your income. You have to be prepared, in either case.



reg828   
Member since: May 10
Posts: 29
Location:

Post ID: #PID Posted on: 27-05-11 10:25:34

Thanks

Do they check the year ( Tax ) or last 12 months?



freakoutguy   
Member since: Sep 06
Posts: 666
Location: GTA

Post ID: #PID Posted on: 27-05-11 10:37:29

You will have a choice of providing either your latest notice of compliance or salary proof of previous 12 months. Needlessly to say, choose the option that will provide proof of higher earnings.



reg828   
Member since: May 10
Posts: 29
Location:

Post ID: #PID Posted on: 27-05-11 13:21:23

Quote:
Originally posted by ashedfc

On way is to show an higher income for couple of years (just to get the sponsoring done) & once its done, thereafter ..

You can do a T1 adjustment of previous year taxes & get the excess tax refunded back to you..



Which way?





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