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Wsib/audit

2 part question. I can’t find anything about wsib and proposals. Also what’s happens if u are in a proposal and get a letter stating you r being audited? (By wsib) or cra for that matter. Does a proposal offer any protection. Would u tell them hey listen I’m in a proposal ur not going to get much anyway ( as I assume it can then be added into the proposal after correct if they find u owe money) I mean it just seems backwards being in a proposal and then getting audited. What should I do?

Posted from: Ontario

One Response to “Wsib/audit”

A licensed trustee said...

If you are already in a proposal you should be directing your questions to your trustee – that’s one of the things they are being paid to do (answer your questions).

The WSIB has the right to audit you whenever they want – if they audit produces a debt that pre-dates the proposal then it will become a debt that may be included in your proposal. If it increases your total debts by more than 20% then the terms of your proposal may need to be changed so that your creditors still receive the same rate of return.