Bankruptcy Exemptions in Saskatchewan: What You Can Keep If You Go Bankrupt in SK

The Exemptions Act and The Saskatchewan Farm Security Act

Statute: Click here to read the Exemptions Act

Statute: Click here to read the Farm Security Act

Exempt Property

  1. the necessary and ordinary clothing of himself and his family.
  2. furniture and household furnishings and household appliances, to the extent of $4,500
  3. grain, flour, vegetables and meat, when converted into cash to provide food and fuel for heating purposes for the debtor and his family until the next ensuing harvest.
  4. one motor vehicle where it is necessary for the proper and efficient conduct of the debtor’s business, trade, calling or profession.
  5. the books of a professional person.
  6. the tools and necessary implements and office furniture and equipment, to the extent of $4,500, used by the debtor in the practice of his business, trade, calling or profession.
  7. the homestead, provided it is not more than one hundred and sixty acres.
  8. the house and buildings occupied by the debtor and also the lot or lots on which they are situated according to the registered plan thereof to the extent of $32,000.
  9. the trailer or portable shack occupied by the debtor as living quarters.

Farm Property

  1. the necessary and ordinary clothing of the farmer and his family.
  2. furniture and household furnishings and household appliances, to the extent of $10,000.
  3. produce of a farm sufficient, when converted into cash, to provide food and fuel for heating purposes for the farmer and his family until the next harvest.
  4. all livestock, farm machinery and equipment, including one automobile or one farm truck, that are reasonably necessary for the proper and efficient conduct of the farmer’s agricultural operations for the next 12 months.
  5. one motor vehicle, where it is necessary for the proper and efficient conduct of the farmer’s business, trade, calling or profession, but only if that motor vehicle is not in addition to one mentioned in #4.
  6. the books related to any profession practiced by the farmer.
  7. the tools and necessary implements and office furniture and equipment, to the extent of $4,500 used by the farmer in the practice of his business, trade, calling or profession.
  8. the house and buildings occupied by the farmer as his bona fide residence and the lot or lots on which they are situated according to an approved plan to the extent of $32,000.
  9. seed grain chosen by the farmer, that is sufficient to sow all his farm land under cultivation to a maximum amount equal to the product of:
    • two bushels per acre, and
    • the number of acres of farm land under cultivation by the farmer.
  10. the crop of the farmer to the extent that is sufficient, when converted into cash, along with any other means that he may have, to:
    • pay all unpaid legitimate costs of harvesting the crop.
    • provide a necessary living allowance for the support of the farmer and his family until the crop of the following year is about to be harvested. and
    • provide necessary costs of his farming operations until that time.
  11. the homestead.
  12. any trailer that is occupied by the farmer as living quarters and not in addition to the house and buildings already exempt.

What do I do now?

For more information on bankruptcy exemptions in Saskatchewan, and what you get to keep if you go bankrupt in Saskatchewan, please consult a Saskatchewan bankruptcy trustee.

Join the Conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

5 + eight =