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Retro Child Tax Credit received while bankrupt.

If I receive a retro payment for Child Tax Credit for two years before filing bankruptcy does this need to be declared as income for the present year?

Posted from: Alberta

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One Response to “Retro Child Tax Credit received while bankrupt.”

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

Yes this needs to be disclosed to your trustee, but it is more confusing than simply including it in income for the purposes of the surplus income calculation. You will need to discuss the details directly with your trustee.