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How does bankruptcy affect a self-employed person in Alberta?



Grant Thornton Limited



Jun 08, 2016



Hi Sandrs, The process is the same for an individual that is self-employed compared to an individual that is on salary or earning a hourly wage. I do suggest to the self employed individuals that file bankruptcy with our office to make monthly installments to Canada Revenue Agency to prevent a tax liability after filing for bankruptcy. The Bankruptcy and Insolvency Act as states that you must disclose that you are an undischarged bankrupt when you engage in business or enter into a business transaction. If you have any concerns with your formal options please do not hesitate to contact our office at 310-8888.

Susan Methuen
T 403-310-8888


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