Receiving back pay for Disability tax credit refund while bankrupt
I just learned I may be eligible for the disability tax credit in the amount of $15,000. However, I filed for bankruptcy and am 3 months into it.
Should I wait until I am discharged before claiming the money? Or if my spouse was to claim it would my bankruptcy office be able to take it still.
Basically what I want to know is there any way for me to keep the money?
All assets as at the date of bankruptcy (and in the case of tax refunds, for the year of bankruptcy) belong to the trustee for the benefit of the creditors.
Only assets specified by your province are exempt from seizure.
Please refer to https://bankruptcycanada.com/bankruptcyexemptions.htm
– Licensed Insolvency Trustee