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household income

Grandparents need to claim bankruptcy. Two adult grandchildren temporarily living with them. One grandchild is working and paying $400. a month for board and room, the other grandchild on EI and paying $300. a month board and room. Does their entire take home pay have to be included in the household income or just the $700. that is for board and room?

Posted from: Manitoba

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One Response to “household income”

A licensed trustee said...

This is something to discuss with their trustee in detail BEFORE they decide to file. The law requires the entire household income to be used in the calculation – so if the grandchildren are part of the household then their income will be factored in and the household threshold for 4 will be used. If the grandchildren and “living apart” – making their own meals, keeping to themselves, not sharing in the household chores, then it may be correct to simply include the rent as income for your grandparents and treat them as a household of 2.