CRA debt

June 11th, 2009 by Questions

The house is in my spouses name (for one year) I owe Gst 40K. pst 60K. etd 20K . I Paid them the priciple that I owed now they want the penalties and interest. I am unable to pay. The buisiness I owned had to close (automotive related) Assuming CRA gets a judgment against me can they/will they go after the house

Posted from: Ontario

Questions

One Response to “CRA debt”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

There are so many different factors that are involved here it is important you discuss this directly with a local trustee. Technically if the property is in your wife’s name then it reduces the likelihood that anything will directly be done to the property, the complicating factor is that it has only been in her name for 1 year as such other details become important (i.e. who’s name was it in prior to that time, if it was transferred out of your name how was it done and was there any consideration that you received, how much equity is there in the property etc.).

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