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Alger & Associates personal bankruptcy services are
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Alberta bankruptcy Q&A forum

Question:

 

If I file bankruptcy are my child tax credit money owed to me after filing taxes taken to distribute my creditors? Including the CRA


From:

 

Grant Thornton Limited

Date:

 

Feb 27, 2016

Answer:

 

Hello, Child tax credits are considered as income during a bankruptcy and subject to surplus income calculation. The child tax credits are not automatically forwarded to our office as an asset for the distribution to your creditors like pre and post bankruptcy tax refunds (if applicable). If you have any further questions concerning the treatment of child tax benefits please contact our office at 310-8888.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

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