S. Withers
This site states that my GST refund does not have to be submitted to my Licensed Insolvency Trustee, yet they took 3 GST payments while I was bankrupt last yaer and now have been told me they will be taking my GST payments for this year too. Can I apply to get these payments back?
Posted from: Ontario
Trustees have the option of collecting or not collecting your HST (GST). The decision is usually made when you file adn you sign a document giving the trustee the right to take them. (In our firm we don’t take them because we think it is punative, but most trustees do because they can…).
If you have signed them over then your trsutee may retain them until the end of your bankruptcy. If more than a certain amount, (roughly $1700) has been paid into to your bankruptcy from any/all other sources then your trsustee is required to return your HST to you.
So, go and speak to yoru trustee – have a look at what you signed when the bankruptcy started and check to see how much money has already been collected in your bankruptcy. Don’t be surprised if you can’t have the money…