Staff Reporter / Friday, March 31, 2017 / Categories: News Province Writes Off $15.2 Million in Bad Debts What do you do when a debt seems uncollectible? In the personal world, you just forget it. In the business world you write it off, an accounting step that might allow you a tax deduction. As it turns out, the government writes off bad debts too, this year to the tune of $15.2 million in unpaid or uncollected debts as of March 31. Write-offs are a routine accounting practice. Debts are written off each year when it is determined they are unlikely to be paid for reasons like personal or commercial bankruptcy, death of the debtor, or property foreclosure. Government will continue debt collection efforts where possible. This year's write-offs include uncollectable loans in the departments of Business, Labour and Advanced Education, Agriculture, and unpaid fines and fees in the departments of Health and Wellness, Justice, Natural Resources, and the Office of Service Nova Scotia. The Department of Finance and Treasury Board is writing off a few outstanding Public Service Award advances. Provisions for these debts were made in previous fiscal years so the write-off process has no impact on departmental budgets or Nova Scotia's deficit or surplus position in 2016-2017. A more detailed summary of the approved write-offs is available at www.novascotia.ca/finance. Print 1712 Rate this article: No rating Tags: government write-offs Please login or register to post comments.