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GST AND TAX REFUNDS

I AM IN BANKRUPTCY AND I PAY MY MONTHLY TRUSTEE FEE OF $150.00 OUT OF MY ALLOWABLE MONTHLY NET INCOME. I DO NOT HAVE A SURPLUS OF INCOME.

CAN MY GST AND TAX REFUND BE USED TO PAY MY MONTLY TRUSTEE FEE SINCE I HAVE READ THAT THE TRUSTEE`S FEE IS GENERALLY PAID FROM THE NON- EXEMPT ASSETS OF THE BANKRUPT IF THERE IS ANY.

Posted from: British Columbia

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One Response to “GST AND TAX REFUNDS”

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

Typically the minimum cost of a bankruptcy is irrespective of tax refunds or GST cheques. The non-exempt asset that the minimum payment comes from is your income. The normal practice is that the sale of assets is on top of the minimum cost in a bankruptcy and ultimately is used to provide a small disbursement to your creditors.