Immigrants to Canada must demonstrate their intention to live freely in our nation without relying on social help. There are, of course, a variety of ways to affirm your desire to settle independently in Canada. Whatever the case, the LICO table is a crucial tool for this job.
What’s LICO?
LICO stands for “Low Income Cut-Off” and is a measure of income below which a family may have difficulty meeting their basic needs. LICO is used by Immigration, Refugees and Citizenship Canada (IRCC) as one of the criteria to assess eligibility for certain programs, including the Super Visa program.
The LICO is calculated based on the size of the family and the location of residence in Canada. The calculation takes into account the family’s gross income, which includes income from all sources before taxes and other deductions.
It’s important to note that the LICO is updated annually and may vary based on the family size and location of residence. Therefore, it’s essential to check the current LICO requirements before applying for the Super Visa.
Where LICO is useful
LICO, or the Low Income Cut-Off, is useful in a variety of ways. Some examples include:
Immigration: As mentioned earlier, LICO is used by Immigration, Refugees and Citizenship Canada (IRCC) to determine eligibility for certain programs, such as the Super Visa program. IRCC also uses LICO to assess the financial capacity of sponsors for other family sponsorship programs, such as spousal sponsorship.
Social services: LICO is used by many social service organizations to determine eligibility for programs and benefits, such as food banks, subsidized housing, and child care subsidies.
Research: LICO is often used as a benchmark for measuring poverty and income inequality in Canada. Researchers and policymakers may use LICO to evaluate the effectiveness of social policies and programs aimed at reducing poverty and inequality.
Let’s have a look at the LICO Table For 2023:
