cra and cmhc

November 27th, 2009 by Questions

Can cra keep taking my income tax? It has been 11 years since this debt and cmhc has never contacted me, only a credit agency[ CBCL] Has the SOL not run out on this several times over? Thanks

Posted from: Ontario

Questions

One Response to “cra and cmhc”



November 29, 2009 at 5:53 pm, A licensed trustee said:

There is no statute of limitations on debt – if you owed the money 10 years ago and it hasn’t been repaid in full then you still owe the money today.

Under Ontario law, if you have not made a payment towards a debt in 2 years and the creditor has not initiated legal action they may be restricted from doing so. (There are a lot of loop holes in the law, not the least of which is a requirement for you to keep the creditor aware of your current address – if you don’t then the law may not apply to you.)

In your case, if they’ve been taking your tax refunds every year an argument can be made that they are being paid (sort of). If you want a more detailed explanation of how this law works you’ll need to speak to a lawyer.

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