Will i lose my refund if wife goes bankrupt etc?
January 26th, 2009 by Questions
Family consists of 2 adults, 3 kids with one on the way… My wife is debating to file for bankruptcy… Only source of income is my ODSP benifit, baby bonus, gst credit. Will any of this be taken? I know the trustee files for my wife.. but she has no income of her own… How does it work for me filling my tax return? Does the trustee take my refund?? and gst credits?
Posted from: Ontario
One Response to “Will i lose my refund if wife goes bankrupt etc?”
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January 27, 2009 at 10:14 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you are not filing for bankruptcy, it is only your wife, then your tax refund is not taken. However, your wife, being the lowest income of the household, should receive the GST tax credit and this is something that will be lost. The rest of it, ODSP benefit, baby bonus etc. is not taken, but it is seen as income and used to determine if there is any surplus payments that need to be paid per the Superintendent Surplus Guideline.