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CMHC is going to collect all my income tax from CRA

CMHC is going to collect all my income tax from CRA. Is this forever or once I file they can no longer take my income tax. I understand though that the Trustee will be receiving my income tax, how many years will that be for?

Posted from: Ontario

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One Response to “CMHC is going to collect all my income tax from CRA”

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

CMHC will loose the right to seize your taxes on the date of bankruptcy. Typically as part of the bankruptcy you will loose any tax refund for the year you file for bankruptcy, but then in the next year it goes back to you.