Dealing with CRA after bankruptcy discharge

February 10th, 2015 by Questions

After I got the certificate bankuptcy dischage from my trustee, do I have to send that copy to CRA when I file for income tax return in the following year??

Posted from: Ontario

Questions

One Response to “Dealing with CRA after bankruptcy discharge”


February 10, 2015 at 12:54 pm, Doug Stuive, CA | Trustee | CIRP said:

The Canada Revenue Agency will be updated that you received a discharge from bankruptcy directly from the Office of the Superintendent of Bankruptcy. That is the government agency that monitors all bankruptcy files in Canada. Your trustee will electronically file a copy of your discharge certificate with the “OSB” . From there, the Canada Revenue Agency will be notified. If you receive an automatic discharge from your Trustee’s office you should start to receive you income tax benefits and returns directly for the taxation year after the year you filed for bankruptcy. Some credits, such as GST refunds, are payable over a one year period that is passed the taxation year they represent. Even though you may have been discharged, credits like those may continue to be mailed to your Trustee’s office even after your discharge date for a period of time.

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