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 Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on Amazon “Tax Tips for Canadians”: https://www.amazon.ca/Tax-Tips-Canadians-Allan-Madan-ebook/dp/B01EIG1WOO/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1467908354&sr=1-1 “Personal Tax Planning Guide for Canadians: 2014 Edition”: https://www.amazon.ca/Personal-Tax-Planning-Guide-Canadians-ebook/dp/B00RVWWBQG/ref=sr_1_3?s=digital-text&ie=UTF8&qid=1467908392&sr=1-3 “20 [More]
The best way to get out of debt is by keeping expenses lower than income and use any low interest-bearing savings account money to pay off higher interest cr…
http://www.voluntary-disclosure-canada.com | Voluntary Disclosure Canada (Tax Amnesty Debt Penalty Unflied Unpaid Unreported Income) What is Voluntary Disclo…
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The following News Release or Speech has just been posted on the Finance Canada Site The Honourable Jim Flaherty, Minister of Finance, today proposed technical changes to extend the application of certain income tax rules that apply to capital gains and losses of a corporation on an acquisition of control to also apply to capital gains and losses on debt denominated in a foreign currency. Under existing tax rules in the Income Tax Act (or Act), a corporation that undergoes an acquisition of control (for example, when another taxpayer buys all of its shares) is required to recognize, for income [More]
Listen .. trust your HART … If you don’t have the money to pay your income taxes, you should still make an effort to file your income tax return ON TIME. This way, it’s only a “collection issue” and you will only be subject to interest on the arrears balances owing. If you file late or after the due date (April 30th for most individuals and June 15th for self-employed individuals), you will have to pay a flat percentage penalty of the balance you owe plus a flat percentage penalty of the balance owing is added for every month you [More]