July 19th, 2011 by Questions
If I file bankruptcy this month how many GST refunds do I loose? This is going to be my 1 st bankruptcy, so I should be done in 9 months. Will I still loose GST refunds for July 2012, October 2012, January 2013, and April 2113?Thanks.
Posted from: Ontario
One Response to “GST REFUND”
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July 19, 2011 at 6:35 am, A licensed trustee said:
The seizing of GST/HST rebates is optional. BEFORE you decide to file with a trustee ask them what their policies are – for example, we do not do so.
If you are dealing with a trustee that does seize GST/HST then they have the right to do so until the administration of your bankruptcvy is complete, BUT if the total amount collected/received in your bankruptcy from ALL SOURCES exceeds $1700 then your trustee is required to refund your GST/HST. That’s why some of us no longer seize it – it seems silly to take something only to have to give it back lkater, especially when for many familes that rely on this extra money…