is it legal not to disclose my wife`s income

September 23rd, 2009 by Questions

is it legal not to disclose my wife`s income

Posted from: Ontario

Questions

One Response to “is it legal not to disclose my wife`s income”



, A licensed trustee said:

If you are filing bankruptcy or a proposal you are required to disclose all of the sources and amounts of income in your household. So, if you know your wife’s income you are required to disclose it.

If you don’t know your wife’s income you are expected to ask her – she is not required to tell you, but if it is not disclosed then the trustee is only permitted to allow you 50% of the normal threshold amount when calculating surplus.

For example, if there is just you and your wife and she won’t disclose her income to you then you are only entitled to 50% of the thresold for a single person ($1870/2 or $935) when your trustee determines your surplus obligation. The normal threshold if she does disclose for a family of two is $2328.

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