Completing Form IMM 5748: Income Sources for the Sponsorship of Parents and Grandparents
This form is to be used if either the sponsor or the co-signer does not want to allow IRCC to access their tax information directly at CRA. In other words, you may have to file 2 separate IMM 5748 forms if you have a co-signer and neither you the sponsor nor your co-signer want to allow IRCC direct access to your tax information. But you also may not have to complete this form.
Let’s review form IMM 5748:
As you can see, there is a direct connection between IMM 5748 and IMM 5768. You need to use the answer to question 7 from IMM 5768 – your income level necessary to support your sponsored parents, grandparents, and dependents (if any) – and use that income level for tax years 2018 and 2019. Because of COVID your income for 2020 will be treated differently, as we explained at the beginning.
You then have to calculate your income based on your tax returns in questions 3 and 4 and then compare those amounts with the required income in the upper boxes. If your actual income is less than the required income, you are not eligible to sponsor.
This is part is key. You can use these images and the relevant lines from your Notice of Assessments from the past 3 tax years and compare it with required income levels by doing the calculations we laid out for you at the beginning to see if you have the required income.
If you don’t earn the required income you can:
- Add your spouse as a co-signer (in which case you use both questions 3 and question 4), or
- Decide not to apply and wait for your income levels to improve.
Please note that your income sources are different for 2020 seeing that you are allowed to include some of the government income-support programs put in place due to COVID – as we explained in Chapter 1. Hence 2020 has its own itemized list of income sources for both the sponsor and co-signer:
Of course, you can take the easier route and check Yes for question 8 in form IMM 5768 and avoid having to fill out form IMM 5748. But for many of you, privacy of information is likely worth a little inconvenience.
Immigroup Paid Help
Are you worried your application will get rejected because of an error? When you hire a specialist from our Immigroup network, you’ll get an advocate who is knowledgeable, honest, and reliable. Most of all, you’ll get peace of mind! Contact us today and see why so many of our clients are with us for life.
Allard Keeley has been a published writer on immigration policy since 2013. Has written for publications like The Federalist. Fluent in Spanish and English. BA Honors Economics Queen’s University in Kingston, Ontario.