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sk

I submitted a CP that was accepted a month ago. I also owe 5000 to CRA from 2011 taxes and my trustee told me that is covered in my CP. I don’t want any repercussions from CRA and wanted to pay that in monthly installments, however am wondering if it’s okay to let my CP cover that amount?
Also, my salary submitted to my trustee for the CP based on my current wages, is less that what I made last year which was submitted to CRA….would CRA question that and should I let my CP cover the amount I owe them?
Please advice..

Posted from: British Columbia

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One Response to “sk”

A licensed trustee said...

If you filed your proposal after january 1, 2012 then any taxes you owe for 2011 are automatically included in your proposal. You can’t legally pay them yourself even if you want to – if you do then all of your other creditros have the right to force you to pay them in full too…

If your income really isower then you don’t have anything to worry about – if you understated your income to your trustee then you may be asked to increase your payments to reflect your “true” income.