A crucial announcement for all Canadian citizens and permanent residents: Immigration, Refugees and Citizenship Canada (IRCC) has released the updated financial requirements for the highly anticipated 2025 Parents and Grandparents Program (PGP)!
Key Financial Details to Note:
New 2024 Income Benchmark: A minimum of $47,549 is now required for your 2024 income, reflecting an adjustment upwards by at least $3,000.
Consistent Support: Your financial stability must be demonstrated across three pivotal tax years: 2024, 2023, and 2022.
Personalized to Your Household: The exact income threshold adapts to your family's unique size. For illustration:
2 people: $47,549 (2024)
3 people: $58,456 (2024)
Collaborative Sponsoring: You have the option to combine your income with that of a co-signing spouse or common-law partner to meet the criteria.