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No, the trustee will not take the child tax benefit. However, if you go bankrupt, you will be required to provide a report to your trustee each month that outlines your income and expenses. If your income exceeds a certain amount, you will be required to pay a portion of the excess to the trustee for your creditors. Family benefit checks get including as income for the purpose of this calculation.
GST rebates are also treated differently in bankruptcy. All GST checks go directly to the trustee and the trustee is entitled to keep these until the trustee has received enough to cover a minimum for fees and costs. This minimum amount, from all sources is usually about $1700 but depends on which registrations fees etc. that the trustee has to pay.
Bruce Alger
phone: (403) 296-2970
balger@alger.ca
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