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Government Approves Writeoffs for 2014-15

Government is writing off $12.2 million in unpaid or uncollectable debts as of March 31.

Writeoffs are a routine accounting practice. Debts are written off each year when it is determined they are unlikely to be paid because of personal or commercial bankruptcy, death of the debtor or property foreclosure.

Government will continue debt collection efforts.

This year’s writeoffs are mostly related to uncollectable loans in the departments of Labour and Advanced Education, Economic and Rural Development and Tourism, and Agriculture, and unpaid fines and fees at Health and Wellness, Justice, Natural Resources and Service Nova Scotia. The Department of Finance and Treasury Board will write off uncollectable advances of the Public Service Award.

The average over the last 10 years is $13.2 million.

All debts have originated in previous fiscal years and have no impact on departmental budgets or Nova Scotia’s deficit or surplus position.

A more detailed summary of the approved writeoffs is available at www.novascotia.ca/finance .

Source: Release

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