Taxes Owing- Tax Debt : Tax tips

 

Negotiate an acceptable payment arrangement

If you owe money to CRA (Revenue Canada) and can't pay the full amount be sure to negotiate an acceptable payment arrangement with them so that they don't seize any of your assets.

Liabilities for unpaid Canadian Income Taxes are too high?

If your liabilities for unpaid Canadian Income Taxes are too high for you to pay you can consider either a formal Proposal under the Bankruptcy and Insolvency Act or going bankrupt.