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GST credit payments and prescribed payments relating to your familys essential needs.
Other exempt property defined by the province or territory where you live.
Exemption Extremes
Furniture
Car
Nunavut
$200
Sask. farm
$10,000
Yukon
$600
Quebec
No set limit
None
Health (medical, dental, etc.) aids needed by you and your dependants.
The tools of your trade: tools, equipment, and books needed to earn money from your nonfarming occupation.
Farm property: Farmland where your principal residence is located, and required operating
equipment, livestock, and other property.
Some land.
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
The tools and farm exemptions cannot both be taken; they apply only to your principal occupation.
Exemptions by province and territory
CAUTIONS:
The exemption lists we provide below are simplified summaries of the law.
Even where there is no dollar limit, exemptions are limited to what you and your dependants
really need.
The provinces often adjust the exemptions for various reasons, such as inflation.
For interpretation of the rules in your case, we strongly recommend that you contact a Canada
bankruptcy trustee to review your situation to determine which assets would be exempt if you were to
file for bankruptcy. You should be completely clear on what you can keep if you go bankrupt in
Canada versus what you may lose if you go bankrupt in Canada.
Please choose your province or territory:
Alberta
British Columbia
Manitoba
New Brunswick
Northwest Territories
Nova Scotia
Nunavut
Ontario
Quebec
Saskatchewan
Yukon
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
If you are behind on child or spousal support payments, the above exemptions do not apply to any item
but tools of your trade.
Statute: Read the Judgment and Execution Act and the Personal Property Security Act.
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca
You have absconded or are about to abscond from the territories leaving no spouse or family
behind.
Statute: Read the Yukon Exemptions Act, NWT Exemptions Act, Nunavut amendments to Exemptions
Act.
Bankruptcy exemptions reforms
Some people believe that the limits and rules for exemptions are outdated and that the differences
across the country are unfair, and have urged that they be increased and made more uniform. The
2005 bankruptcy reform (which may never be proclaimed as law), would have had a minor effect on
Canadian bankruptcy exemptions, but left most of them unchanged.
Please contact a professional bankruptcy trustee to help guide you through your options.
1-888-823-8239 or Bankruptcy-Canada.ca