Tax Debt Relief in Canada

Tax Debt Relief in Canada

Tax debts are considered unsecured credit and can be included in a bankruptcy or consumer proposal.

Tax Collection and the CRA

Where taxes are owing to the government, the Canada Revenue Agency (CRA) has the authority to:

The CRA can even register a lien against your home for taxes owed.

Unlike other creditors, the CRA many times does not need a court order to seize your property or money.

CRA Tax Debt Relief

Tax Debt and Insolvency

Tax debt can be included in a bankruptcy or consumer proposal. Tax debt relief is generally treated the same as any other unsecured creditors, and we can help with this.

Give us a call and we will explain everything, including doing all the paperwork for you.

★★★★★ I owed taxes for my small business and I hadn’t filed my personal taxes in 2 years.  Truth is I was scared it would wipe me out.  My friend suggested YanchDey to get some advice.  I called and they were very helpful and informative. We brought my taxes up to date, I filed a proposal and will be clear and debt free in 2 years.  The stress relief was worth everything. Thank you  Paul Vorvis, Ajax

Tax Debt in Insolvency

When a bankruptcy or consumer proposal is filed:

  • tax debts such as income tax, GST/HST, source deductions and director’s liabilities,
    • will be discharged upon completion of the process
    • meaning you’re released from paying tax debts you owed prior to filing
  • collection by Canada Revenue Agency such as
    • seizing your bank accounts or wages will stop
  • owing more than $200,000 in personal income tax
    • may delay your discharge in a bankruptcy scenario

We’ve helped thousands of individuals get a “new tax life”, or clean slate. We make it so you can focus on new tax filings, rather than trying to pay years’ worth of back taxes.

Who has Tax Debts

A large number of the people we see have tax debt that they have not been able to pay.

Many times this is the only debt that they have. In addition many of these people are under the false impression that taxes will not be wiped out by a bankruptcy or consumer proposal.

In fact income tax debt, HST, and other forms of tax liability can all be included in a bankruptcy or consumer proposal.

You’re Good at What You Do

As with many business people, trades people and tax payers in general they are usually very good at the jobs they do. The bookkeeping and accounting may be an unfamiliar field.

Businesses require filings and accounting and thats where professionals can help.

Sometimes being unaware of when tax returns are due, or how to file with the CRA can cause a person to become behind in their tax responsibilities.

The idea of knowing that you will owe, can even prevent you from attempting to prepare the return!

Whether it be income tax, HST returns, corporate tax returns and financial reports, a bookkeeper or accountant can dramatically assist in ensuring that your taxes are up to date.

Many people are so overwhelmed by their tax burden that they bury their head in the sand.  The tax situation becomes worse every year, until finally the taxes owing can be overwhelming.

This is where YanchDey can help with your finances and tax problems.

Eliminating Your Tax Debt

In discussing your finances we will formulate a plan to eliminate all your debt including taxes.

We can look at the reasons that brought you to this situation and help you to avoid them in the future.

In helping with your tax debt forgiveness, we will ensure you’re on the right track with solutions and a plan for your taxes in the future.

Read more about CRA Tax Debt & Bankruptcy >>

Send Us an Email

Send Us an Email

Call 905-721-7506