Income Tax, GST and the filing of a bankruptcy

March 30th, 2009 by Questions

Trustee is doing tax return for 2008, if there is gst credit to be revcieved this year (2009) does it go to the bankruptcy?
What about CTB, does it go to the bankruptcy as well?

Posted from: British Columbia


One Response to “Income Tax, GST and the filing of a bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If you file bankruptcy you will typically loose your tax returns and GST cheques for the year of bankruptcy and any previous years. So practically we find there are usually 4 GST cheques that you would not see.

As for Child Tax Benefit, this will continue to go to you, although is considered part of your total income when determining if you have to pay in Surplus during the bankruptcy.

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