2025-11-11
Who will know I’ve filed for Bankruptcy?
Bankruptcy
You may be considering filing for Bankruptcy — and worried about who may find out. Learn who will be notified when you declare Bankruptcy.
What Happens With Income Tax Debt In Bankruptcy
2011-01-28
Hello, This is a good question as there is a common misconception that income tax debt is not discharged or "forgiven" in bankruptcy. Income tax debt is in fact extinguished in bankruptcy. One exception would be if you owe a substantial amount to Revenue Canada for an income tax debt and they have registered a Certificate of Judgment on your property. If this has occurred, the judgment remains enforceable and essentially has the effect of a mortgage on your property (i.e. the debt would have to be paid before the judgment would be removed). Brad Milne, CIRP Trustee in Bankruptcy Brandon, Manitoba
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