To sponsor you must prove you have enough income to support yourself and all the member of your family which includes your parents as you will be financially responsible for them once you become a sponsor.
If you are invited to apply, you have to provide proof that you meet the income requirements for each of the three tax years before the date you apply. To apply you only require to include your 2018 and 2019 notice of assessments and submit your 2020 notice of assessment as soon as you receive it from Canada Revenue Agency.
Immigration, Refugees and Citizenship Canada (IRCC) will only assess whether you meet the income requirements after you apply and if you are invited.
You will be assessed on your income for tax years 2018, 2019 and 2020.
The below table outlines the income requirement for each of the three tax years.
