FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Income tax refunds

If I declare bankruptcy in 2011 which would be for 21 months I understand I would lose my 2011 tax refund. Do I get to keep any 2012 tax refund?

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Posted from: Ontario

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One Response to “Income tax refunds”

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

The legislation reads that when you file for personal bankruptcy in Canada you lose tax refund only for the year you filed for bankruptcy. So 2011 should be the only year you lose.