3. Calculate your surplus income payments

To see if you might have to make surplus income payments, you can use the Surplus Income Calculator. But your Licensed Insolvency Trustee will tell you if you have to make payments and the exact amount that you will have to pay.

To calculate your surplus income payments, start with your net family income then subtract the guideline amount that is allowed for living expenses. The guidelines are changed every year in February.

For example, in 2015 the guideline amount allowed for a family of 3 was $3,156. This means that a family with an income of $3,500 each month would have $344 in surplus income. The surplus income payment this family would have to make is half of their surplus income, or $172.