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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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tax on exemptions

When determining value of exemtions, are taxes added? For instance, in Ontario, a car is exempt to $5650. Is that the pre tax value?

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One Response to “tax on exemptions”

A licensed trustee said...

The exemption values are “pre-taxes”. In other words, you may own a motor vehicle worth up to $5,650 in Ontario before applying any GST or PST.