Non taxable income in a Consumer Proposal
January 2nd, 2016 by Questions
If I am filing a consumer proposal, do I have to disclose non-taxable pension that I receive from the Department of Veteran Affairs? I do not have to claim this on income as it is a gift from the government for my injuries I incurred while serving overseas. The government nor does my disability company take this pension into consideration as income.
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January 03, 2016 at 11:53 am, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:
For the purposes of Directive 11R of the Bankruptcy and Insolvency Act, disability income or allowances are considered part of your income. As such it must be disclosed and the creditors can use the information in making the decision in whether to accept the proposal or not.