| Author: |
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Joe |
| Date: |
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September 28, 2002 |
| Question: |
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My trustee was discharged more than 7 years ago after my my original application was opposed by Canada student loans. I am applying for an absolute discharge now and am completing the financial statement as an exhibit to the affadavit. I am a Canadian citizen but a non-resident (for 5 years) for tax purposes. Do I have to report my income acquired in the last 2 years in the country I reside in or is the financial statement only for Canadian income, assets and liabilities? If I have to report the foreign assets, which currency and exchange rate do I use to report them?
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From: |
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Ann Clarke, Collins Barrow Limited |
| Date: |
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September 30, 2002 |
| Answer: |
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In cases like yours, we require our bankrupts to declare all assets acquired and income earned since the date of bankruptcy, whether in Canada or not. You may want to value the assets at the currency of the country where you live and also give the estimated value after exchange. I'd suggest you contact your former Trustee about these matters.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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