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CRA and back taxes

Can revenue canada put a claim on equity in home if the tax bill is taking a long time to pay off, or are unable to make payments for a certain amount of time do to loss of employment

Posted from: British Columbia

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One Response to “CRA and back taxes”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

What you are referring to is a statutory lien, and the answer is Yes. At any point CRA can register this statutory lien against title of any real estate that you own and what this does is effectively makes them a secured creditor (i.e. just like a second mortgage). This is one of the avenues available to CRA to collect any overdue taxes and it is a power that can be exercised without any notification to the debtor.