If someone file consumer proposal, does this affect your taxes or pay cheque
August 4th, 2009 by Questions
If someone files for a consumer proposal, does this affect your taxes,rrsp,saving bonds or banking account
Posted from: Ontario
One Response to “If someone file consumer proposal, does this affect your taxes or pay cheque”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
August 05, 2009 at 9:44 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
Technically speaking no.
There is no vesting of assets that is required so any tax refunds, RRSP’s, savings bonds or money in a bank account is yours.
However, these things must be disclosed to the creditors and valued when coming up with the offer you are going to make in the consumer proposal.
So while you don’t loose them directly, they do have an impact on things.