tax exempt income and bankruptcy

July 29th, 2008 by Questions

If my spouse is earning tax exempt income and is not bankrupting do we have to claim that income monthly on the forms. Our trustee is airing on the side of caution but this is not income in any other government paper work? Is this something a lawyer should answer?

Posted from: British Columbia


One Response to “tax exempt income and bankruptcy”

, A licensed trustee said:

The Bankruptcy and Insolvency Act includes any/all income received in the household when determining a person’s surplus income obligation. It is not open to interpretation – income is income is income no matter where it comes from.

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.)