In British Columbia certain property is exempt from seizure:

• Equity in a home in Greater Vancouver and Victoria = $ 12,000. In the rest of the province = $ 9,000;
• Equity in Household items = $ 4,000;
• Equity in a Vehicle = $ 5,000; The vehicle exemption drops to $ 2,000 if the debtor is behind on child care payments (to facilitate the enforcement of Maintenance Orders)
• Equity in work tools = $ 10,000;
• Equity in essential clothing and medical aids is unlimited

Any other assets may be sold by the Trustee for the benefit of the creditors of  the bankrupt. This would include shares, RRSP's which are not locked-in, recreational equipment or other assets which have market value.

Tax refunds outstanding, as at the date of the bankruptcy, also vest in the trustee for the benefit of the creditors. Income Tax law requires a bankrupt to file two tax returns for the year of the bankruptcy. The first (pre bankruptcy tax return) covers the period January 1st through to the date of the bankruptcy. The second (post bankruptcy tax return) covers the period starting with the date of the bankruptcy and ending December 31st. Tax rebates vest in the trustee for the benefit of the creditors.