Author: Al Parsai, LL.M, RCIC-IRB
Last Updated On: May 8, 2024

LICO Table 2024 for immigration and visiting Canada

NOTE: The LICO 2024 article and table are guidelines for those who wish to immigrate to Canada. However, you may refer to this article for other purposes.

Immigrants to Canada are expected to demonstrate their ability to reside in the country self-sufficiently and without resorting to social assistance (practitioners, refer to A39). There are various methods to establish one’s intention to be a self-reliant newcomer. Nevertheless, the LICO (Low Income Cut-Off) table is crucial in fulfilling this requirement.

What is LICO?

The low-income cut-off (LICO) table for immigration purposes represents the poverty line in Canada’s urban areas with a population of half a million or more. In other words, you are poor if your income is below LICO. Statistics Canada updates the LICO table every year based on the inflation rate.

Settlement funds versus annual income

An immigration officer may consider your skills, work experience, educational credentials, and assets to verify financial admissibility. Nonetheless, settlement funds are one of the main options to prove your ability to be independent. Of course, settlement funds refer to the money you can bring to Canada when you land as a newcomer. Immigration authorities use the LICO table to evaluate the sufficiency of settlement funds. Consider reading the following article for more information on settlement funds.

You cannot rely on settlement funds when sponsoring a family member via a family reunification option. You must show a steady income since you are financially sponsoring your loved ones. Therefore, your income becomes more important than the money in your bank account. Please read the following articles for more information:

The LICO Table 2024 is also a point of reference for sponsorship income.

Where LICO is useful

You may use the LICO 2024 table for settlement funds and the necessary annual income. Here are some examples.

Of course, these are just some examples. Additional federal or provincial immigration options may also consider LICO 2024 to evaluate applicants’ financial status. Consequently, in some immigration options, such as the Federal Self-employed class, LICO could help even though settlement funds are not an explicit assessment factor. Consider reading the following article for more information:

LICO table 2024

The following table shows LICO for 2024*. As you see, the LICO changes based on the household number.

Size of Family UnitLICO – 12 MonthsLICO – 6 Months
One person$29,380$14,690
Two persons$36,576$18,288
Three persons$44,966$22,483
Four persons$54,594$27,297
Five persons$61,380$30,690
Six persons$69,834$34,917
Seven persons$77,750$38,875
If more than seven persons, for each additional person, add$7,916$3,958

*I used the latest figures posted on the IRCC website for the 6-month LICO and multiplied the 6-month values by 2 for the 12-month LICO.

Like the Federal Skilled Worker Program, most immigration options require proof of funds based on a 6-month LICO. Remember that I have done my best to show the correct figures, but the values presented here are not official numbers. Consequently, consult with other sources as well.

Comparing 12-month LICO over the years

This table presents the 12-month Low Income Cut-Off (LICO) figures from 2018 to 2024. It aims to illustrate the progression of the LICO thresholds throughout these years.

Size
of Family Unit
2018201920202021202220232024
one person$24,950$25,338$25,921$26,426$26,620$27,514
$29,380
two persons$31,062$31,544$32,270$32,898$33,140$34,254$36,576
three persons$38,186$38,780$39,672$40,444$40,742$42,110$44,966
four persons$46,362$47,084$48,167$49,106$49,466$51,128$54,594
five persons$52,584$53,402$54,630$55,694$56,104$57,988$59,728
six persons$59,304$60,228$61,613$62,814$63,276$65,400$69,834
seven persons$66,028$67,056$68,598$69,934$70,448$72,814$77,750
If more than seven persons, for each additional person, add$6,722$6,828$6,985$7,120$7,172$7,412$7,916

Comparing 6-month LICO over the years

The table below displays the six-month Low Income Cut-Off (LICO) figures from 2018 to 2024, intended to demonstrate the variations in LICO over this time frame.

Size
of Family Unit
2018201920202021202220232024
one person$12,475$12,669$12,961$13,213$13,310$13,757$14,690
two persons$15,531$15,772$16,135$16,449$16,570$17,127$18,288
three persons$19,093$19,390$19,836$20,222$20,371$21,055$22,483
four persons$23,181$23,542$24,084$24,553$24,733$25,564$27,297
five persons$26,292$26,701$27,315$27,847$28,052$28,994$30,690
six persons$29,652$30,114$30,807$31,407$31,638$32,700$34,917
seven persons$33,014$33,528$34,299$34,967$35,224$36,407$38,875
If more than seven persons, for each additional person, add$3,361$3,414$3,493$3,560$3,586$3,706$3,958

How to realize income in comparison to LICO

To compare your income with LICO, the best way to realize your income is to look at your Notice of Assessment (NOA) or the Option C printout. Unfortunately, a typical NOA is confusing. However, your answer is line 150 or 15000 of the NOA. Regardless, in some immigration options, you could refer to your earnings statements or T4. Nonetheless, consult with an accountant for correct figures. Also, ask a practitioner if using these sources is beneficial. Finally, if you use LICO for settlement funds, your account balance is more important than your income.

A Sample NOA to reflect where to find income for immigration purposes.

Questions about LICO 2024 or immigration matters to Canada

If you have questions about LICO 2024 or other immigration-related issues, fill out the following form. Of course, we will get back to you as soon as possible. However, if the question is case-specific, we advise you to book a consultation session.

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    We extracted the LICO tables with the help of the IRCC website.

    Updated: 2024-05-08

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    Al ParsaiAl Parsai, LLM, MA, RCIC-IRB
    Regulated Canadian Immigration Consultant
    Adjunct Professor – Queen’s University – Faculty of Law
    Ashton College Instructor – Immigration Consulting
    Author – 88 Tips on Immigration to Canada

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    Al Parsai, LL.M, RCIC-IRB

    Al Parsai is a distinguished Regulated Canadian Immigration Consultant (L3 RCIC-IRB – Unrestricted Practice) hailing from vibrant Toronto, Canada. Al's academic achievements include an esteemed role as an adjunct professor at prestigious Queen's University Law School and Ashton College, as well as a Master of Laws (LLM) degree from York University (Osgood Hall Law School). A respected member of CICC, Al's insights are further enriched by his experience as the dynamic CEO of Parsai Immigration Services. Guiding thousands of applicants from over 55 countries through the immigration process since 2011, Al's articles offer a wealth of invaluable knowledge for readers.