Can I do anything about the taxes I owe to Revenue Canada?
In a bankruptcy, any amounts owing for personal income tax are included with your other debts. At the time you are discharged your tax debt will be eliminated along with your other debts.
In a consumer proposal , Revenue Canada is treated like all other creditors and will participate with other creditors in the proposal that you make to pay off your debts. If creditors accept payment of 30cents on the dollar owing then Revenue Canada will receive the same settlement.
- Dealing With Tax Debt And CRA In Canada
- 2013 Income Tax Season
I sincerely appreciate all your hard work and effort in setting consumer proposal for us. You have given us some peace as we have been through a great deal of struggle and trying to make it. We both owe it to you for our freedom. May God Bless you and your family for helping us. Blessings!
K.S. ( Mississauga )
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