An accredited investor under the individual/spouse net income test will qualify if the investor earns above certain levels of annual income under type (k) according to NI 45-106.
Accredited Investor type (k): An individual whose net income before taxes exceeded $200 000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300 000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year.
INDIVIDUAL:
• net income before taxes exceeded $200,000 in each of the 2 most recent calendar years;
• reasonably expects to exceed that same net income level in the current calendar year; and
• the issuer obtains a signed risk acknowledgement in prescribed form (Form 45-106F9) from the investor.
- The individual is qualified
WITH A SPOUSE:
• net income before taxes exceeded $300,000 in each of the 2 most recent calendar years;
• reasonably expect to exceed that same net income level in the current calendar year; and
• the issuer obtains a signed risk acknowledgement in prescribed form (Form 45-106F9) from the investor.
- each spouse is qualified (even where each spouse would not qualify on their own)