Low Income Cut-Off (LICO)

The LICO table, formulated and maintained by Statistics Canada, serves as a standardized reference point, delineating income thresholds critical for assessing financial stability across different household sizes and locations in Canada. These thresholds signify the minimum income deemed necessary to sustain a modest standard of living within the country.

This invaluable tool plays a fundamental role in identifying households or individuals with incomes falling below the established thresholds. By encompassing various factors such as family size and geographical location, the LICO table offers a comprehensive view of income benchmarks crucial for estimating the expenses necessary for fundamental necessities like food, shelter, and clothing.

With its annual updates, the LICO table remains current and reflective of the evolving economic landscape and cost-of-living adjustments in distinct regions. By delineating these income thresholds, it enables government agencies, policymakers, and organizations to identify and assist those who may require financial support or access to essential services, ensuring an equitable approach in providing aid and fostering financial stability across diverse communities.