Bankruptcy Exemptions in the province of Saskatchwan | Canada


Exemptions in Bankruptcy - Province of Saskatchewan:

Items exempt in a Bankruptcy / Consumer Proposal filing in the province of Saskatchewan are as follows:

  • For Non-Farmers:
    • Household Goods, personal effects and furniture up to a value of $4,000.00
    • Tools of the Trade up to a value of $4,500.00
    • One Motor Vehicle provided it is required to maintain your employment
    • Home Equity exemptions:
      • Home equity exemption for a single owner: $32,000
      • Home equity exemption for a joint ownerhip: $64,000
    • Certain Life Insurance policies and Pensions are exempt - others are not
  • For Farmers:
    • Household Goods, personal effects, appliances and furniture up to a value of $10,000.00
    • Sufficient cash to provide food & fuel for heating to livestock until the next harvest
    • All livestock, farm machinery, and equipment necessary for the next 12 months of farm operations. Also includes a vehicle allowance for one commercial vehicle.
    • One motor vehicle for business use and maintenance of employment is exempt provided one has not been exempted for commercial farming uses above.
    • Tools and equipment up to $4,000 in value provided they are used by a farmer in his trade or profession.
    • Home Equity exemptions:
      • Home equity exemption for a single owner: $32,000
      • Home equity exemption for a joint ownerhip: $64,000
    • Seed grain totaling 2 bushels per acre for land currently under cultivation
    • Cash equivalent of crop equal to:
      • unpaid harvesting costs
      • Living expenses to next harvest
      • Necessary costs of farming until next harvest
    • Certain Life Insurance policies and Pensions are exempt - others are not
    • Also exempted: "The Homestead"

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