Provincial Exempt Property in Bankruptcy

January 4, 2023 10:29 pm Published by Leave your thoughts

Bankruptcy Exemptions by Province and Territory

Before you Proceed, you should understand that Provincial Exempt Property in Bankruptcy vary from province to province.

  •     The exemption lists are for information purposes only.  They summarize individual provincial legislation that changes from time to time and can be complex
  • Exemptions can be limited to your individual situation and we suggest fulling understanding your rights before proceeding with any restructuring option.
  • As such, we strongly recommend that you call our Licensed Insolvency Trustee to review your situation and determine which of your assets will be exempt if you file for bankruptcy or a proposal.
  • Correct accurate and timely information can help to ensure you are making an informed decision.

Please choose your province or territory:

Alberta – Exempt Property

  1. Food: 12 months’ supply
  2. Clothing: up to $4,000
  3. Household furniture and appliances: up to $4,000
  4. One motor vehicle; up to $5,000
  5. Health aids: no dollar limit
  6. Tools of your trade: up to $10,000
  7. Farm property: requirements for 12 months’ operations
  8. Principal residence: up to $40,000, reduced to your share if you are a co-owner
  9. Farmland: up to 160 acres if principal residence is on same land
  10. Social allowance, handicap benefit or a widow’s pension if the proceeds from the payment are not intermingled with your other funds
  11. RRSPs, RRIFs, DPSPs and registered education savings plans, but not payments out of these plans, subject to certain conditions

Statute: Alberta’s Provincial Exempt Property in Bankruptcy Legislation, Read Alberta’s Civil Enforcement Act and Civil Enforcement Regulation.

British Columbia – Exempt Property

  1. Food and fuel: no exemption
  2. Necessary clothing: no dollar limit
  3. Household goods: up to $4,000
  4. One motor vehicle: up to $5,000 (or $2,000 if you are late in making support payments)
  5. Medical and dental aids: no dollar limit
  6. Tools of your trade: up to $10,000     Principal residence: up to $9,000 (or $12,000 in Greater Vancouver or Victoria)
  7. RRSPs, RRIFs, DPSPs

Statute: Read British Columbia’sProvincial Exempt Property in Bankruptcy Legislation  Court Order Enforcement Act and Exemption Regulation.

Manitoba – Exempt Property

  1. Food and fuel: six months’ supply or cash equivalent
  2. Necessary clothing: no dollar limit
  3. Household furniture and appliances: up to $4,500
  4. One motor vehicle (needed for occupation): non-farmers up to $3,000, farmers no limit
  5. Health aids: no dollar limit
  6. Tools of your trade: up to $7,500
  7. Farm property: buildings and requirements for 12 months’ operations
  8. Farm animals necessary for 12 months’ operations
  9. Seed sufficient to seed all farmland under cultivation
  10. Principal residence: if farmhouse, no limit; non-farmers up to $2,500, or $1,500 if you are a co-owner
  11. Farmland: up to 160 acres
  12. Items needed for religious services
  13. Municipal or school property

Statutes: Manitoba Provincial Exempt Property in Bankruptcy Legislation Read the Executions Act and the Judgments Act.

New Brunswick – Exempt Property

  1. Food and fuel: three months’ supply
  2. Necessary clothing: no dollar limit
  3. Household furniture and appliances: up to $5,000 (more in some cases)
  4. One motor vehicle (needed for occupation): up to $6,500 (more in some cases)
  5. Health aids: no dollar limit
  6. Tools of your trade: up to $6,500
  7. Farm property: farm animals to specified limits, their feed for six months, and seed grain and potatoes to specified limits
  8. Principal residence: no exemption
  9. Consumer goods which are necessary to the debtor and/or have little realizable value: no dollar limit
  10. Pets

Newfoundland & Labrador – Exempt Property

  1. Food and fuel: twelve months’ supply
  2. Necessary clothing: up to $4,000
  3. Household furniture and appliances: specific types, up to $4,000
  4. One motor vehicle: up to $2,000
  5. Medical and dental aids: No dollar limit
  6. Tools of your trade: up to $10,000
  7. Personal property for income earning incl. farming, fishing or aquaculture property: up to $10,000
  8. Principal residence: up to $10,000
  9. Pets
  10. Items of sentimental value: up to $500
  11. Certain pension plans
  12. Certain income

Statute: For Newfoundland and Labrador Provincial Exempt Property in Bankruptcy Legislation Read the Judgment Enforcement Act and its Regulations, and the Personal Property Security Act.

Nova Scotia – Exempt Property

  1. Food and fuel: no dollar limit
  2. Necessary clothing: no dollar limit
  3. Consumer goods necessary to the debtor, and/or of little realizable value: no dollar limit
  4. Household goods: $1,000, or up to $6,500 in some cases
  5. One motor vehicle: up to $3,000, or up to $6,500 if needed in occupation
  6. Health aids: no dollar limit
  7. Tools of any occupation: up to $1,000
  8. Seeds and livestock for domestic use: no dollar limit
  9. Farm equipment to a certain value
  10. Principal residence: no exemption

Statute: For Nova Scotia Provincial Exempt Property in Bankruptcy Legislation Read the Judicature Act, the Value of Chattels Regulation and the Personal Property Security Act (PDF).

Ontario – Exempt Property

  1. Food, fuel, household furniture, appliances: up to $13,150
  2. Necessary clothing: up to $5,650
  3. One motor vehicle (needed for occupation): up to $6,600
  4. Medical devices: no dollar limit
  5. Tools of your trade: up to $11,300; or, for full-time farmers: livestock, bees, books, tools and implements up to $29,100
  6. Principal residence: $10,000 equity is exempt

Statute: For Ontario’s Provincial Exempt Property in Bankruptcy Legislation Read Ontario’s Execution Act and its Regulations.

Exemptions can be confusing, and statutes are updated and revised regularly. A Licensed Insolvency Trustee has current information and can advise on your best course of action. There is no obligation when you have your first conversation with a Trustee, and your discussion is confidential.

Prince Edward Island – Exempt Property

  1. Food, fuel, household furniture, appliances: up to $2,000
  2. Necessary clothing: no dollar limit
  3. One motor vehicle: $3,000
  4. Tools of your trade: up to $2,000
  5. Farm property: seed for up to 100 acres, other farm chattels and equipment up to $5,000
  6. Principal residence: no exemption

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 PEI’s Judgment and Execution Act and the Personal Property Security Act.

Quebec – Exempt Property

  1. “Moveable property” and household furnishings, up to $6,000
  2. Food, fuel, linens and clothing: no dollar limit
  3. Motor vehicle: no dollar limit
  4. Disability aids, accident benefits: no dollar limit
  5. Tools of your trade: no dollar limit
  6. Principal residence: $10,000
  7. Support received through court order, donation, or bequest
  8. Most property declared exempt by a donor or will
  9. A certain portion of your wages and salaries, based on number of dependants
  10. Benefits payable and employer contributions under employer-sponsored pension plan
  11. Family papers and portraits, medals and other decorations, documents
  12. Items used in religious worship
  13. Income for services as a minister of religion
  14. Food, lodging, and transportation passes received for employment travel

Statute: For Quebec’s Provincial Exempt Property in Bankruptcy Legislation Read Quebec’s Code of Civil Procedure.

Saskatchewan – Exempt Property

  1. Food and fuel: supply until the next harvest or cash equivalent
  2. Clothing including jewellery: $7,500
  3. Household furniture and appliances: up to $4,500 (or $10,000 for a farm)
  4. One motor vehicle valued at up to $10,000
  5. Medical and dental aids: no dollar limit
  6. Tools of your trade: up to $4,500
  7. Farm property: among other exemptions, livestock and equipment for up to 12 months, two bushels seed per acre of land under cultivation, and enough cash or current crop for farming costs to the next harvest
  8. Principal residence: up to $50,000 (your share)
  9. Pets valued at up to $2,000

Statute: For Saskatchewan’s Provincial Exempt Property in Bankruptcy Legislation Read The Enforcement of Money Judgments ActThe Enforcement of Money Judgments Regulations and the Saskatchewan Farm Security Act (PDF).

Northwest Territories / Nunavut / Yukon – Exempt Property

  1. Food and fuel: twelve months’ supply
  2. Necessary clothing: no dollar limit
  3. Household furniture and appliances: no dollar limit
  4. Medical and dental aids: no dollar limit in Nunavut and Northwest Territories
  5. Tools and animals of your trade (or, in Nunavut, for hunting/fishing for food): up to  prescribed limits in Nunavut and Northwest Territories; up to $600 in Yukon
  6. Principal residence
  7. One motor vehicle in Nunavut and Northwest Territories

The above exemptions for the territories do not apply if:

  • You are behind on child or spousal support payments.

At C.E. Craig & Associates as a Licensed Insolvency Trustee we have up-to-date information on exemptions for every province and can advise you on how these apply to your situation. Your first consultation is free and confidential

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