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proposal?

I am divorced and cra was holding proceeds from the sale of our home in trust until the taxes were complete. I am now in a position to make a proposal. I have 2 small children and have received NO child support in a year and a half. Do I have to offer all proceeds or can I offer half of them and pay back the other half over the next 60 months. I really need to have some of the money to help support the children.

Posted from: Ontario

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One Response to “proposal?”

A licensed trustee said...

Whether or not CRA will accpet your proposal likely depends on your filing history with the Agency. If you have always been a late filer then the Agency is less likely to agree to your proposal – this is a policy decision that was made in Ottawa a few years ago.

All I can suggest is that you contact a trustee in your area to discuss your history with CRA – they should be able to tell you the likelihood of CRA agreeing to your proposal.