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RETROACTIVE CHILD DISABILITY BENEFIT

My child was just approved for child disability benefits, it goes back 3 yrs, i habe filed bankruptcy about 2 mths ago. Will the trustee take my back monthly pmts i was entitled to?

Posted from: Nova Scotia

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One Response to “RETROACTIVE CHILD DISABILITY BENEFIT”

A licensed trustee said...

The retro-active benefit will likely be sent directly to your trustee for the benefit of your creditors. Or CRA may ask your trustee to file adjustments to the earlier tax returns in order to claim the benefit. Either way, even if you try and file the adjustments yourself (now or after the bankruptcy), CRA will send the money to your trustee.

You need to contact your trustee to work out whether or not they will treat the retro-money as income and therefore let you keep a portion of it. There are rules on how to deal with this sort of thing (it happens a lot) – call your trustee to get the ball rolling.