Tag Archives: Tax Debt

Many Canadians are self-employed, running their own small business. In many cases they started the business using their credit cards or other personal resources to fund start up costs and initial expenses. It is not uncommon for the business to start slowly, whichcan can lead to debt trouble. Approximately 10%… Read more

Daniel had a good job, working at the same company for almost 20 years.  He was doing well until five years ago when both of his elderly parents got sick and he had to take a leave of absence from work to take care of them.  He was eligible for… Read more

Question: I filed a consumer proposal in June 2008. I just did my tax return for 2008 and discovered that I am supposed to get a nice income tax refund of $2,300. Prior to filing my proposal, I owed $2,358 to the CRA, and they settled this account on my… Read more

Question: I filed a consumer proposal earlier this year. I just did my tax return and discovered I am supposed to get a nice income tax refund. Will this be taken from me because of this consumer proposal? Keep Your Assets In A Consumer Proposal No, you will not lose… Read more

Question: If you owe money to Canada Revenue Agency (CRA or Revenue Canada), but you don’t fully own your home, what can they take from you? Can they seize your home, car, bank account etc. CRA (Revenue Canada) Tax Liens and Powers of Collection If you owe taxes, CRA (Revenue… Read more

Question: I realize that if I earned the money then I have to pay the tax. But what if the amount owing includes large penalties and interest, can the penalties and interest be negotiated in lieu of paying the actual tax Answer: Revenue Canada (CRA) will not negotiate on the… Read more