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Child Tax Credit

Do I lose my child tax credit from the government of ontario if I claim bankruptcy? Frankly–it is buying the groceries.

One Response to “Child Tax Credit”

Barton Goth GCO Bankruptcy Trustees said...

No, you do not directly loose your child tax credit.

Although, this is considered income when calculating whether or not you have to make surplus payments or not, so indirectly it may marginally increase what you have to pay each month, but likely the impact will be marginal. For a breakdown of how much it affects things you should review your income figures with a local trustee and they will be able to show you how surpluse works and determine if it is an issue or not.