I have now posted the newly released Superintendent’s Standards for surplus income for 2010. I have also updated the Sample Surplus Income Calculation.
The Superintendent’s standards are derived from the Low Income Cutoffs (LICO) released by Statistics Canada. The Superintendent of Bankruptcy uses the before-tax LICO for urban areas with 500 000 people or more.The 2010 standards are updated by adding to the 2008 LICO the 2009 Consumer Price Index (CPI) of 0.26 percent, plus a 1.7 percent adjustment reflecting the 2010 CPI expectation. Because the actual and expected changes in CPI are currently so low, there has been very little change in this year’s standards.
