Bankruptcy Canada - Revenue Canada
Bankruptcy Canada Questions & Answers
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Anonymous |
Date: |
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Sept 9, 2008 |
Question: |
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If you owe $25,000 in income tax, does this survive bankruptcy? Can Revenue Canada later oppose the discharge? Under what circumstances can they be successful?
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From: |
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Karen
Alger & Associates Inc. - Alberta Bankruptcy Trustee |
Date: |
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Sept 12, 2008 |
Answer: |
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A tax debt is an unsecured debt in a bankruptcy and is dischargeable. If CRA objects to your discharge(not a regular occurance), a court application is required. Cases are successful for a number of reasons but the one thing you can do to help you case is to ensure your current taxes are up to date - ie. instalments paid and returns filed on time.
Karen Rideout
phone: (403) 296-2973
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This site provides free information about personal bankruptcy in Canada and personal bankruptcy alternatives in Canada, including answers to common personal bankruptcy questions.
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