(Assets you keep in a Bankruptcy)

These exemptions are applicable to all seizures not just in a bankruptcy or proposal context.

Bankruptcy Exemptions for other provinces and territories can be found here

The property exempt from seizure is set by the provinces and territories and applies to the equity in the asset.

Equity is the excess that the value of an asset has over any charges or encumbrances against that asset.

For example, if you have tools used in your trade or profession worth $10,000 and there is a $6,000 secured debt against them then the equity in the tools is $4,000. In Saskatchewan the exemption for tools used in your trade or profession is $4,500 so in this example you are entitled to the equity of $4,000 and the unsecured creditors cannot take this.

Saskatchewan Bankruptcy Exemptions are:

For Non-Farmers:

Household furniture and personal effects to a value of $4,500 per person;
Tools of the trade to a value of $4,500;
A motor vehicle, if required for employment;
Equity in personal residence to a value of $32,000 ($64,000 if jointly owned) to a maximum of $128,000 if held by four parties;
Certain life insurance policies;
RRSPs, RRIFs and DPSPs are exempt from seizure.

For Farmers:

Furniture, furnishings and appliances to a value of $10,000;
The cash equivalent of produce sufficient to provide food and fuel for heating until the next harvest;
All livestock, farm machinery and equipment, including one car or truck, necessary for the next twelve months operations;
One motor vehicle, if required for business or profession, but not in addition to the one above;
Tools and equipment to a value of $4,500 used by a farmer in his trade or profession;
Equity in personal residence to a value of $32,000 ($64,000 if jointly owned) to a maximum of $128,000 if held by four parties;
Seed grain equal to two bushels per acre of land under cultivation;
RRSPs, RRIFs and DPSPs are exempt from seizure;
certain life insurance policies.
Cash equivalent of crop equal to:

unpaid harvesting costs;
living expenses to next harvest;
necessary costs of farming until next harvest.

Saskatchewan, SK Bankruptcy Exemptions

Bankruptcy Exemptions for other provinces and territories can be found here

Saskatchewan Bankruptcy Exemptions are:

Overview:

Bankruptcy Information: