Consumer Proposal and Future Income Tax Refund

Popular Posts

Ontario Statute of Limitations (16,991)
Revenue Canada (5,102)
Statute of Limitations on Credit Card Debt (4,936)
consumer proposal and mortgage (3,486)
Collection Agency indicated they are going to proceed (2,431)

Question: We filed a consumer proposal in April of 2009 and part of that consumer proposal was to pay Canada Revenue back for income tax, if in the 2010 year we were to receive a tax refund, will we be eligible to receive this refund without penalities?

Answer: Yes, CRA generally keeps your refund and applies it against back taxes for the year of the proposal, but you should receive all tax refunds starting in 2010.

This entry was posted on Tuesday, October 13th, 2009 at 10:06 am and is filed under Consumer Proposals in Canada, Tax Debt. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.