Surplus Income

December 14th, 2007 by Questions

I have a 19 yr old son that lives with me. He works a part-time job but is not in school. He pays for personal items such as razors, deoderant and clothing. I pay the rent and hydro as well as all the household expenses. Would I have to claim his income under Surplus Income if I file for bankruptcy?

Questions

One Response to “Surplus Income”



, Barton Goth GCO Bankruptcy Trustees said:

In determining surplus it is necessary to establish the earnings and expenses of everyone in the family unit. As a result you must disclose the earnings and expenses of each member of the family unit (including your son)

For the purposes of Surplus, the family unit includes any persons who reside in the same household and who benefit from either the expenses incurred or income earned by the bankrupt, or who contribute to such expenses or earnings.

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