Mr. Jeffrey
June 4th, 2013 by Questions
After discharge, can I claim tax credits for previous years of bankruptcy with CRA, and will I receive them, or do I need my signed off trustee to claim them.
Posted from: Ontario
One Response to “Mr. Jeffrey”
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June 04, 2013 at 5:48 am, A licensed trustee said:
This is a very old “trick” and CRA is wise to it. If you file any adjustments to tax returns for the year of your bankruptcy filing and/or any years prior to your bankruptcy, any refunds generated will be forwarded to your trustee for the benefit of your unsecured creditors (from your bankruptcy) – regardless of whether or not you have been discharged.
We’ve seen people wait two or three years after their discharge to file changes to old tax returns and CRA simply sends the refunds to their trustee (as they are required to do by law).