Bankruptcy Canada Surplus Income Limits for 2012


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If you file bankruptcy in Canada, you are required to report your income to your bankruptcy trustee each month, and if you have surplus income you are required to make extra payments. The amount you are permitted to earn while bankrupt is set by the government of Canada, based on your family size, and each year they adjust the limits for inflation. The limits for 2012 are about 2.8% higher than they were for 2011.

UPDATE: Bankruptcy Canada posts the surplus income limits each year as the federal government releases the new limits. To see the most recent limits read our article about Surplus Income and follow the links.

Here are the limits set for 2012, based on your family size:

Family SizeLimit
1
$1,980
2
$2,465
3
$3,031
4
$3,680
5
$4,174
6
$4,707
7
$5,241

How does the calculation work?

Let Us Help

Calculating surplus income can be very confusing.  If you are considering filing bankruptcy and would like to know what the cost of your bankruptcy will be, including if you will have to pay surplus income, we strongly recommend you talk to a trustee in bankruptcy about your situation. 

Contact a Local Bankruptcy Trustee near you.

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