Bankruptcy Exemptions in Canada (2025): What You Can Keep by Province
You won’t lose everything in bankruptcy. Canadian law protects many essential assets — like clothing, furniture, tools, and even your home or car. These protections are called bankruptcy exemptions, and they vary by province. This 2025 guide explains bankruptcy exemptions in Canada — and connects you with local Licensed Insolvency Trustees who can help.
Learn more from the Office of the Superintendent of Bankruptcy (Canada) about federal insolvency rules and your legal rights.
Select Your Province
This guide explains bankruptcy exemptions in Canada by province, so you know exactly what property you can keep.
Ontario
If you live in Ontario, Ontario bankruptcy exemptions allow you to keep essential items like clothing, household furniture, tools, and even some home equity.
- Clothing: Unlimited
- Household furniture: Up to $14,180
- Vehicle: Up to $7,117 equity
- Tools of trade: Up to $14,405
- Home equity: Up to $10,783 (equity = value minus mortgage)
Ontario exemption values are governed by the Execution Act of Ontario.
Quebec
If you live in Quebec, Quebec bankruptcy exemptions allow you to protect key assets like your vehicle, home, and tools of trade — often in full.
- Clothing: Unlimited
- Household items: Up to $7,000
- Vehicle: Up to $15,000 equity
- Tools of trade: Fully exempt
- Home: Fully exempt if declared principal residence
British Columbia
If you live in British Columbia, British Columbia bankruptcy exemptions determine what you can keep, with different rules for urban and rural homeowners.
- Clothing: Unlimited
- Household items: Up to $4,000
- Vehicle: $5,000 ($2,000 if behind on child support)
- Tools of trade: Up to $10,000
- Home equity: $12,000 (urban) or $9,000 (rural)
Alberta
If you live in Alberta, Alberta bankruptcy exemptions are especially helpful for homeowners and small business owners.
- Clothing: Unlimited
- Household goods: Up to $4,000
- Vehicle: Up to $5,000
- Tools of trade: Up to $10,000
- Home equity: Up to $40,000
Manitoba
If you live in Manitoba, Manitoba bankruptcy exemptions allow you to keep clothing, furniture, one vehicle, and a modest amount of home equity.
- Clothing: Unlimited
- Household items: Up to $4,500
- Vehicle: One vehicle per debtor
- Tools of trade: Up to $7,500
- Home equity: Up to $2,500
Saskatchewan
If you live in Saskatchewan, Saskatchewan bankruptcy exemptions offer some of the highest home equity limits in Canada.
- Clothing: Unlimited
- Household goods: Up to $4,500
- Vehicle: Up to $10,000
- Tools of trade: Up to $10,000
- Home equity: Up to $50,000
Nova Scotia
If you live in Nova Scotia, Nova Scotia bankruptcy exemptions protect a range of personal and work-related items up to set value limits.
- Clothing: Unlimited
- Household goods: Up to $5,000
- Vehicle: Up to $6,500
- Tools of trade: Up to $6,500
- Home equity: Up to $10,000
New Brunswick
If you live in New Brunswick, New Brunswick bankruptcy exemptions safeguard essential items like household goods, work tools, and some home equity.
- Clothing: Unlimited
- Household goods: Up to $5,000
- Vehicle: Up to $6,500
- Tools of trade: Up to $6,500
- Home equity: Up to $10,000
Newfoundland & Labrador
If you live in Newfoundland & Labrador, Newfoundland & Labrador bankruptcy exemptions allow you to keep necessary items like clothing and furniture.
- Clothing: Unlimited
- Household goods: Up to $4,000
- Vehicle: Up to $2,000
- Tools of trade: Up to $10,000
- Home equity: None set
Prince Edward Island (PEI)
If you live in Prince Edward Island, PEI bankruptcy exemptions offer modest protection for essentials like clothing and some household goods.
- Clothing: Unlimited
- Household goods: Up to $2,000
- Vehicle: Up to $3,000
- Tools of trade: Up to $2,000
- Home equity: None set
Yukon
If you live in Yukon, Yukon bankruptcy exemptions allow you to keep personal belongings like clothing, household items, and work-related tools.
- Clothing: Unlimited
- Household goods: Up to $200
- Vehicle: Up to $6,000
- Tools of trade: Up to $600
- Home equity: Up to $3,000
Northwest Territories
If you live in the Northwest Territories, Northwest Territories bankruptcy exemptions protect core assets including a vehicle, furniture, and tools.
- Clothing: Unlimited
- Household goods: Up to $5,000
- Vehicle: Up to $6,000
- Tools of trade: Up to $6,000
- Home equity: Up to $10,000
Nunavut
If you live in Nunavut, Nunavut bankruptcy exemptions are designed to protect your ability to work and live, covering personal and work-related property.
- Clothing: Unlimited
- Household goods: Unlimited
- Vehicle: One motor vehicle
- Tools of trade: Unlimited
- Home equity: Up to $35,000
Compare Bankruptcy Exemptions in Canada by Province (2025)
This table helps you compare bankruptcy exemptions in Canada across provinces.
| Province | Vehicle Exemption | Tools of Trade | Home Equity | RRSPs Protected? |
|---|---|---|---|---|
| Ontario | $7,117 | $14,405 | $10,783 | Yes |
| Quebec | $15,000 | Fully exempt | Fully exempt if declared | Yes |
| British Columbia | $5,000 / $2,000 (support owed) | $10,000 | $12,000 (urban) / $9,000 (rural) | Yes |
| Alberta | $5,000 | $10,000 | $40,000 | Yes |
| Manitoba | 1 vehicle (reasonable value) | $7,500 | $2,500 | Yes |
| Saskatchewan | $10,000 | $10,000 | $50,000 | Yes |
| Nova Scotia | $6,500 | $6,500 | $10,000 | Yes |
| New Brunswick | $6,500 | $6,500 | $10,000 | Yes |
| Newfoundland & Labrador | $2,000 | $10,000 | None set | Yes |
| Prince Edward Island | $3,000 | $2,000 | None set | Yes |
| Yukon | $6,000 | $600 | $200 | Yes |
| Northwest Territories | $6,000 | $6,000 | $10,000 | Yes |
| Nunavut | $6,000 | $5,000 | $10,000 | Yes |
| *All RRSPs are protected in every province and territory except for contributions made in the 12 months prior to filing bankruptcy. | ||||
Note: The exemption amounts listed above reflect 2025 limits set by each province or territory. A Licensed Insolvency Trustee can help interpret how they apply to your specific situation.
FAQ: Bankruptcy Exemptions in Canada 2025 – What You Can Keep
Got questions about bankruptcy exemptions in Canada? These answers will help.
Legal rules that allow you to keep essential assets like clothes, furniture, tools, and sometimes your home and car.
Yes, across Canada — except contributions made in the last 12 months.
Often, yes. It depends on how much equity you have and your province’s exemption limits.
Your trustee may suggest a consumer proposal to protect those assets.
Usually no. Most student loan debt is only dischargeable if it’s been 7 years since you left school.
Province-Specific Bankruptcy FAQs
Ontario’s bankruptcy exemptions protect essentials like clothing, household furniture, tools, and up to $10,783 in home equity. Vehicles are also protected up to $7,117.
Quebec exemptions protect clothing, household goods up to $7,000, a vehicle up to $15,000 equity, and your home if it’s your declared primary residence.
BC exemptions allow you to keep unlimited clothing, $4,000 in household items, and home equity up to $12,000 (urban) or $9,000 (rural). Vehicles are exempt up to $5,000 equity.
Alberta exemptions protect unlimited clothing, $4,000 in household items, up to $40,000 in home equity, and $5,000 for a vehicle. Tools of trade are protected up to $10,000.
Manitoba allows you to keep unlimited clothing, household items up to $4,500, one vehicle, and $2,500 in home equity.
Saskatchewan exemptions protect up to $50,000 in home equity, $10,000 in tools, $10,000 for a vehicle, and unlimited clothing.
Nova Scotia lets you keep up to $5,000 in household goods, $6,500 for tools and a vehicle, and up to $10,000 in home equity.
New Brunswick protects unlimited clothing, $5,000 in household items, $6,500 in tools, and up to $10,000 in home equity.
Newfoundland & Labrador protects clothing and household items up to $4,000, a vehicle up to $2,000, and tools of trade up to $10,000.
PEI exemptions allow you to keep unlimited clothing, household goods up to $2,000, a $3,000 vehicle, and $2,000 in tools.
Yukon exemptions include unlimited clothing, $200 in household goods, $6,000 for a vehicle, and $600 in tools.
NWT protects clothing, $5,000 in household goods, a vehicle up to $6,000, tools up to $6,000, and home equity up to $10,000.
Nunavut protects unlimited clothing, unlimited household goods, unlimited tools of trade, one motor vehicle, and up to $35,000 in home equity.
See provincial exemption lists for: Ontario • Quebec • BC • Alberta • Manitoba • Saskatchewan • Nova Scotia • New Brunswick • Newfoundland & Labrador • PEI • Yukon • NWT • Nunavut • All provinces
Get Help Understanding Bankruptcy Exemptions in Canada
If you’re unsure what you can keep under bankruptcy exemptions in Canada, or whether a consumer proposal might be better, our Licensed Insolvency Trustees can help.