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

  • Household furniture up to liquidation value of $13,150.00
  • Personal effects up to $5,650.00
  • Tools of the trade up to $11,300.00
  • A vehicle up to $6,600.00
  • 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)