Repaying Tax Debt

Thursday, January 30, 2014 - 05:00

Consumer Proposals, Bankruptcy, Business Concerns, Collection Agencies, Government Debt


Government debts including income tax, HST and payroll source deductions are no different than any other debts you may owe.

The only difference between Canada Revenue Agency and other creditors are their special collection rights. These rights include the ability to:

Collection action from the government, including these special rights, can be stopped and discharged by:

Use the Debt Options Calculator to find the best option to deal with your tax debt without filing for personal bankruptcy.

Latest Posts

Keeping your Savings with a Consumer Proposal

How does making a consumer proposal affect your TFSAs and RRSPs? With a consumer proposal, you get to keep your assets, which includes your tax free savings account and your RRSPs.

October 8, 2019

Consumer Proposals, Asset Concerns

Incorporated Companies and Debt

If your business is incorporated, then legally the business is a separate entity and its assets are owned by the business. In this case the incorporated company can go bankrupt if it cannot meet its financial obligations.

October 3, 2019

Business Concerns