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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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Income taxes during bankruptcy

If I declare bankruptcy, is my trustee going to prepare my income taxes for the time of bankruptcy? How about my husbands taxes? Does he need to do taxes with the trustee? And after the discharge? Thank you!

Posted from: Ontario

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One Response to “Income taxes during bankruptcy”

A licensed trustee said...

Trustees are responsible to see that the tax return for the year BEFORE you file for bankruptcy and the year of your bankruptcy are filed. That doesn’t mean you trustee is required to do them, but most trustees do.

It is unlikely your trustee will prepare anyone else’s tax return, unless the trustee has an accounting practice that does that kind of work. If they do agree to prepare it there will be an additional fee.