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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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CCRA Debt

I have admitted to stealing money from a former employer. This money was paid back. CCRA is now coming at me for taxes on this money and other money that they have decided was undeclared income. Can this debt be discharged through personal bankruptcy (Alberta)?

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One Response to “CCRA Debt”

A licensed trustee said...

If you have repaid the money then I wouldn’t be so quick to accept CRA’s asertion that it was income in the year you took it. You might want to talk to a tax accountant to find out how you object/appeal CRA’s decision.

To answer your question: yes, the debt to CRA for the extra income taxes that they have re-assessed you for will be dealt with as part of your bankruptcy procedure if you file.