CRA debt

March 12th, 2008 by Questions

Hi, I will filing for Bankruptcy shortly to deal with other debt. I have filed my 2007 tax return and have learned that I owe. I have no ability to pay this amount. Can I include this CRA debt in my Bankruptcy still even though the debt is so new and not exactly outstanding?

Questions

One Response to “CRA debt”


March 12, 2008 at 8:54 am, Barton Goth GCO Bankruptcy Trustees said:

Yes, under Canadian Bankruptcy laws tax debt is cleared by the filing of a bankruptcy or a proposal as long as it relates to a period prior to the date the bankruptcy or proposal is filed.

The best thing to do is when you go into meet with a local trustee bring all your tax information with you so he can see what needs to be done and get a good idea of approximately how much will be owing to CRA.

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