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Income Tax Refunds During A Bankruptcy
2008-11-18
When you file personal bankruptcy, both you and your Trustee will have certain duties that must be completed. One of them is to ensure that any tax refunds that would be available to the bankruptcy are dealt with. In your case, this will mean that you would have to provide the Trustee with the information for the returns and any refunds will be mailed to them. The GST refunds will be mailed to the Trustee as well. There is a section in the Bankruptcy & Insolvency Act which outlines whether or not these GST refunds will be returned to you at the end of your bankruptcy. That assessment normally can not be made until your bankruptcy is completed. But in the meantime, the refunds do get mailed to the Trustee. Donna Carson, CGA, CIRP, Trustee Calgary, Airdrie, Drumheller regions 403.537.7657 or 1.877.500.0792 [email protected]
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