Surplus Income Calculator

Surplus income is a calculation based on standards set by the government in relation to your income during bankruptcy. Families that earn more than the monthly income threshold (outlined in the calculator) are subject to a surplus income payment of 50%. In more basic terms, the more you make while you are bankrupt, the more you pay.

The following surplus income calculator is for information purposes only. The actual amount of surplus you would pay if you declare bankruptcy and the number of months you would be bankrupt, depend on a number of factors. For example, if only one spouse declares bankruptcy, this calculator may over-estimate the surplus payment required.

If your surplus income payment is too high, a consumer proposal may be a better option for dealing with your debts.

Please contact a Trustee for a confidential, no charge initial consultation.

With our Surplus Income Calculator, 3 easy steps can help you estimate what your surplus income payment might be in a bankruptcy. Since the actual amount you will need to pay and the number of months you will be bankruptcy vary on a case by case basis, contact a Bankruptcy Canada trustee for a personalized calculation.

Step 1: Enter the number of people in your family, including you.

  Family Size * Monthly Income Threshold

* The threshold defines the portion of your income that you are allowed to keep. Thresholds are set by the Superintendent of Bankruptcy and are derived from the low income cutoffs (LICO), released by Statistics Canada.


Step 2: Enter Your Monthly Family Income


Step 3: Enter Your Monthly Family Deductions

Calculate Surplus Income Payment

Your total monthly income or total monthly debts cannot equal 0.

Monthly Surplus Income Payment =

The actual calculation for surplus income can be quite complicated and can affect the length of your bankruptcy. Contact a trustee to learn more about your options.

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