Consumer Proposal RE: income tax refund
Question: I filed a consumer proposal earlier this year. I just did my tax return and discovered I am supposed to get a nice income tax refund. Will this be taken from me because of this consumer proposal?
Answer: No, you will not lose your tax refund. One of the main advantages of a consumer proposal is that you get to keep assets like tax refunds (unless you owed money to Canada Revenue Agency). That’s why for many people a consumer proposal is a great bankruptcy alternative.