How to get rid of tax debt with the C.R.A – Tax Tip Weekly

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If you have tax debt with the Canada Revenue Agency, there are a number of different options that you can take. We will cover these options in this video.

Timeline
0:00 – Introduction
0:34 – Three Factors
0:58 – Payment Plan Issues
1:27 – Filing a Consumer Proposal
2:19 – Here’s the tip

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Disclaimer:
The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.

Comments

Ken Schroder says:

I went bankrupt in 2014 I did everything under obligation the trustee did not realize any interest in my home at that time as there was no equity to realize I was instructed that all of my debts would be eliminated it was a huge blow to my self-esteem but that was necessary due to divorce and a partner that walked away I took all family debt and tax debts I fulfilled my obligation's under the BIA and was just charged formally I continued to live in my house that I built out of the ground suffered a crash housing market continue to pay my mortgage due to settling issues with ex partner it was finally time to sell the market had improved I was discharged however CRA apparently doesn't follow the same rules against a stay of proceedings and magically had a lien revived after-the-fact when it was because of their unwillingness to work with me I had to go bankrupt to begin with they claim that they have the power to use the BC assessment from a later date to justify this I had to hire a tax lawyer to have money paid into the court in order to complete the sale to settle issues with ex partner Who I might add did not put one penny and in 14 years and is trying to take everything remaining what is wrong with this picture A word of warning to those if you Owe CRA money and you have gone bankrupt and are fortunate to keep your home and the market improves they can come back and say they were just kidding

Alithdit Alith says:

Revenue Agency said I owed them 23k. and I work pay check to pay check .This a ripp off..How do I get ride of this? There is no way I can pay 23k.

Alithdit Alith says:

Revenue Agency said I owed them 23k. and I work pay check to pay check .This a ripp off..How do I get ride of this? There is no way I can pay 23k.

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