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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Can I keep ta refund?

Hi There

If I filed for bankruptcy in 2011, I understand that i would have to give the creditors my 2010 refund. Do I get to keep my 2011 refund?

Thanks

Posted from: Ontario

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One Response to “Can I keep ta refund?”

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

As part of any bankruptcy you automatically lose tax refunds for the year you file for bankruptcy (2011) and any prior years (2010, 2009 etc.). This is written into the legislation and is the same across Canada.