FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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GST REUND AND INCOME TAX REFUND

I am about to be discharged (first) I have been given a statement by my trustee that shows I still owe money to the trustee and that while she will not oppose discharge she will ask for conditional on the grounds that I pay over 12 months the balance. However, my income tax refund that isn’t showing received yet by her would satisfy this balance, would it be applied to the balance or would it go to creditors? What about GST

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One Response to “GST REUND AND INCOME TAX REFUND”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Typically GST and Tax refunds for the year of bankruptcy are independent of the cost of a bankruptcy. Unless there are some unusual circumstances and the court has ruled otherwise, these funds will not be applied to the balance and will ultimately create a dividend that will then be available to all the proven creditors.