CRA Debts
March 9th, 2013 by Questions
I am a sole proprietor , If I file a consumer proposal can taxes owing , HST and Payroll Taxes all be included in my proposal?
Posted from: British Columbia
One Response to “CRA Debts”
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March 09, 2013 at 8:19 am, A licensed trustee said:
You may include all of your government debts, but it will complicate things. CRA takes a very dim view of including Source Deduction debts in proposals – they will likley demand you repay that debt in full if you want them to agree to the rest of the proposal. Frankly, this is only an issue if your CRA debts make up the majority of your total debt. If they do then you have to comply with CRA’s requests if you want the proposal to be accepted. If they aren’t the majority of the debt and your other creditors vote in favour of the proposal then what CRA wants doesn’t matter as much…
Obviously discuss this with your trustee BEFORE you file.