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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Is 2011 Tax Refund Mine?

I am declaring bankruptcy in January. I am thinking of borrowing money from my sister to pay off the bankruptcy fee and be discharged more quickly. If I am discharged before my income tax refund for 2011 comes in, does that go to the bankruptcy or is it legally mine to keep. I want to do the right thing.

Posted from: Ontario

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One Response to “Is 2011 Tax Refund Mine?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

As part of a bankruptcy you loose all tax refunds for the year of bankruptcy and any year prior. So if you file in January of 2012 you will loose your refunds for both the 2011 and 2012 tax year.