Child Tax Credit

November 30th, 2007 by Questions

Do I lose my child tax credit from the government of ontario if I claim bankruptcy? Frankly–it is buying the groceries.

Questions

One Response to “Child Tax Credit”


December 03, 2007 at 10:34 am, Barton Goth GCO Bankruptcy Trustees said:

No, you do not directly loose your child tax credit.

Although, this is considered income when calculating whether or not you have to make surplus payments or not, so indirectly it may marginally increase what you have to pay each month, but likely the impact will be marginal. For a breakdown of how much it affects things you should review your income figures with a local trustee and they will be able to show you how surpluse works and determine if it is an issue or not.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)