No. In Ontario, a bankrupt is able to retain the following property:

  • Household furniture up to liquidation value of $17,091.00
  • Tools of the trade up to $17,362.00
  • A vehicle up to $8,578.00
  • Principal residence if equity is less than $12,997.00
  • Pensions
  • Life insurance policies with specific designated beneficiaries
  • RRSP’s held with a life insurance company that meet certain restrictions
  • RRSP’s (except contributions in the preceding twelve months)