taxes owing

May 7th, 2008 by Questions

Is there a pre tax/post/tax done for consumer proposals the way it is explained for bankruptcies?

Posted from: Ontario


One Response to “taxes owing”

, A licensed trustee said:

It is possible to add a clause to a consumer proposal that mimicks the “pre” bankruptcy tax return feature of bankruptcy, but it is not commonly used.

The reason it doesn’t get used is that CRA (Canada Reveue Agency) takes a negative view towards this clause and often votes to reject consumer proposals that include it.

Certainly ask whatever trustee you speak to whether or not this clause may make sense for you.

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