In order to sponsor a parent or a grandparent, the sponsor ought to show that s/he can meet the LICO requirement for the three consecutive years preceding the date the application is filed:
133. (j) if the sponsor resides
(i) in a province other than a province referred to in paragraph 131(b),
(B) has a total income that is at least equal to the minimum necessary income, plus 30%, for each of the three consecutive taxation years immediately preceding the date of filing of the sponsorship application, if the sponsorship application was filed in respect of a foreign national who is
(I) the sponsor’s mother or father,
(II) the mother or father of the sponsor’s mother or father, or
(III) an accompanying family member of the foreign national described in subclause (I) or (II)
If you are planning to submit your sponsorship application in January 2016 (in order to be among the first ones to be accepted under the applications’ cap), you are already working on gathering all the necessary documents and completing the forms.
Please be aware that the application package for Parent/Grandparent Sponsorship is outdated, and in particular the financial evaluation form IMM5768. The forms requires to provide income amount from 2011 to 2013 only. This means that a sponsor planning to apply in 2016 who was not in Canada in 2011, or who did not meet the LICO in 2011 will not qualify for sponsorship.
It is CIC’s policy to update its applications packages in advance prior to the re-opening of any immigration program. As such, it is expected that CIC will update its Parent/Grandparent Sponsorship application package some time in the late November or mid December 2015.
DO NOT submit the current application package in 2016. Your forms will be outdated and your application will be refused.
Always ensure that you are submitting the most updated forms to CIC prior to sending your application. Seek legal advice should you need assistance with your sponsorship application.