Canadian Association of Insolvency and Restructuring Professionals

Tax Related Debt Solutions

How to resolve and avoid tax debt

March 21, 2024Owing income tax debt to Canada Revenue Agency (CRA) can make one uneasy. An unexpected tax bill can strain your finances and feel overwhelming to manage before the CRA’s payment deadline. Dealing with...

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Tax Planning and Saving Tips to Deal with Income Tax Debt

March 2, 2022We’ve all heard that “nothing is certain except death and taxes.”  While death cannot be avoided, living a healthy life can certainly put off the inevitable for as long as possible. The same is...

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Tax Debts in Bankruptcy

July 7, 2021For one reason or another, most people who come to see me for advice seem to believe that tax debt will not be included in a bankruptcy. When I ask them why they have this preconception, most people simply say, that is what I was told.

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CERB Tax Implications

August 18, 2020If you’re one of the many Canadians who collected Canada Emergency Response Benefit (CERB) payments in 2020, it’s not too early to start thinking about tax time.

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Do I have the options if I cannot pay the income taxes I owe

March 16, 2020You have, or expect to have a tax bill that you cannot pay in full prior to the payment deadline on April 30th.  We listed several reasons in our prior blog Why Do I Owe Income Taxes that may have led...

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Will I Owe Income Tax?

March 2, 2020At some point in most people’s lives, they will owe income taxes.  Listed below are some situations that may result in you having to pay additional income tax. General * Loss of dependant claim for...

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