August 8th, 2010 by Questions
What are considered health costs?
Posted from: Alberta
August 09, 2010 at 8:09 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
While I am not entirely sure what you men by “health costs,” I can only assume it is in relation to non-discretionary expenses. (i.e. expenses that can be deducted out of your income prior to the surplus income calculation that determines the cost of a bankruptcy).
If this is what you are referring to we ultimately follow the allowable medical expenses that are permissible under the Income Tax Act. So if it is a tax deductible medical expense you can deduct it from your income but to do so you must provide a copy of the receipt to your trustee to verify it is valid.
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