On May 5, 2014, CRA updated their article, When You Owe Money – Collections at the CRA, which discussed programs available should taxpayers not be able to pay their tax debt in full. Such programs may include a payment arrangement. The website also references other websites that taxpayers may find useful: IC98-1R4 – Tax Collection Policies, IC13-2 – Government Program Collection Policies, and IC13-3 – Customs Collections Policies, as well as a link to the Office of the Superintendent of Bankruptcy website.
Action Item: If you think you may struggle to pay your tax bill, contact us earlier, rather than later, so we can help to find a solution.