FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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income tax debt

if i file for bankruptcy will this take care of income tax?

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One Response to “income tax debt”

Barton Goth GCO Bankruptcy Trustees said...

Income tax debt is a debt that will be released by the filing of a bankruptcy or a proposal. However, if you have a substantial majority of your debt that relates to income tax it is highly likely that Canada Revenue Agency will attempt to oppose your bankruptcy and depending on your current circumstances the court may impose some additional requirements prior to you being eligible for discharge (i.e. make payments for an additional 12 months).

For a good idea of how CRA and the courts deal with this in your area you are best to contact a local trustee as they will be more aware of local policies and practices.