It is no secret that the Canada Revenue Agency (“CRA”) has tremendous legislative power to pursue businesses and individuals who are in arrears of their tax obligations. These powers include, among other things, the ability to freeze and garnish funds in bank...
The Canada Revenue Agency (CRA) has continued to make massive improvements in the area of income tax debt collection, and is showing no signs of slowing down. Methods traditionally reserved for extreme cases, such as wage garnishments, liens, and the invoking of other...
The Canadian Revenue Agency (CRA) has made it clear that they plan to get much better at collecting outstanding tax debts over the next 5 years, which means Canadians who aren’t current or compliant with their tax payments need to be on notice. But with that said,...
A common feeling amongst many professionals, business owners, and self-employed individuals is the nervous sensation that accompanies any type of letter from the Canada Revenue Agency (CRA). Generally speaking, it doesn’t matter what the letter says, nervousness...
Over the course of several months I have taken the opportunity this blog provides to explain some of the Canadian Revenue Agency (CRA) activities being undertaken to reduce Canadian tax evasion and ensure that everybody is paying their fair share to the Government. ...
Corporate insolvencies involving Canada Revenue Agency (“CRA”) debts have been increasing for several years. Up until the outbreak of COVID-19, CRA utilized their extraordinary investigation and collection powers with ever increasing vigour. Will the era of COVID-19...
Bad Debt vs Better Debt You may have heard that there is such a thing as “good debt,” and wonder how it is possible to owe a creditor money in a good way. Although it’s true that there is debt that can be considered “good” in a sense, however, “good” is not...
