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Out of the reach of the CRA…

The CRA is all powerful… and has far reaching powers… but how far do they really extend ? I assume the CRA has bilateral agreements with other countries to collect money owed to the CRA by people who leave Canada and go to live elsewhere in other countries. Is there any countries where the CRA’s reach doesn’t extend or is bankruptcy the only way to slay the CRA dragon ?

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One Response to “Out of the reach of the CRA…”

Scott Schaefer, CA said...

Canada does have various agreements and treaties with other countries that would impact outstanding tax debts. These treaties and agreements are continuously changing and being added.

The more relevant note, is that, in Canada we have the Bankruptcy and Insolvency Act that allows one to deal with their debts (including tax related debts). Therefore, I would suggest you contact a Trustee to discuss your situation and options in greater detail.