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.


One Response to “Non taxable income in a Consumer Proposal”

, 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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)