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bankruptcy and CCTB

A followup question (from a different poster): You say that a bankrupt will not lose the CCTB, but is that only the case because the CCTB will be lower than the threshold amount? I need to file for bankruptcy, but my take-home pay and the amount my girlfriend receives in CCTB combined is greater than the threshold amount for our family size. Will I have to pay half the amount over the threshold amount to the trustee?

Posted from: Ontario

One Response to “bankruptcy and CCTB”

A licensed trustee said...

First, whether or not someone receives CCTB is based on income tax returns (income) and family size. The bankruptcy process has no direct impact on whether or not someone is eligible for or will receive the CCTB.

If you do receive the CCTB then the amount you recieve IS included in the total household income and might therefore cause you to have a surplus income obligation. It’s the price you pay for releif from your debts….