Who prepare the tax return? A bankrupt’s tax year is divided into two parts. This is commonly referred to as the pre and post-bankruptcy periods.
Am I responsible to pay the tax on RRSP?
My Trustee cashed in my RRSP because it was a non-exempt asset. Am I responsible to pay the tax on that RRSP? No. The bankruptcy estate is
Can CRA pursue me if I live in the United States?
I live in the United States and I owe Revenue Canada for outstanding taxes. Can they garnishee my pay cheque here in the United States? Yes they
Can CRA pursue a spouse?
I am an undischarged bankrupt and I owe Canada Revenue Agency (“CRA”) a lot of taxes. My Trustee has reached an agreement with CRA and given me an
Should I Change Banks?
If I go bankrupt or file a consumer proposal should I change banks? If you owe your bank any money for anything then the answer is yes. One of
What happens to the house?
I am unemployed and have credit card debt. The debt is in my name not my spouses. My spouse has been able to carry everything but these cards. If I
Personal Injury Settlement and Bankruptcy
I am expecting a settlement as a result of a car accident and I am in bankruptcy. What money is lost or kept in a personal injury law suit? A
Re-assessed Taxes After Marital Status Change
Canada Revenue Agency (“CRA”) recently changed my marital status from single to common law since my child was born. Now I’ve been re-assessed and
Can Bankruptcy be Cancelled?
I have declared bankruptcy and I am having a change of heart. Can I have my bankruptcy cancelled? A bankruptcy cannot be cancelled. Once it has