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Tax Solutions Canada Blog

The CRA’s Collection Power

How the Canada Revenue Agency Collects Tax Debt If you owe tax money to the Canada Revenue Agency (CRA), you may consider it like any other debt, such credit card debt or a car loan. However, it’s important to know that the CRA has collection powers that are much stronger…

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What If You Owe More in CRA Tax Debt Than You Can Repay?

Dealing with a Large Tax Debt If you’re about to file your taxes and you realize that you’re going to owe more than you can afford to repay, you might be tempted to not file at all. This won’t help you. The CRA will charge you a late filing penalty…

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Taxpayer Relief: What Qualifies as Extraordinary Circumstances

About the CRA’s Taxpayer Relief Provisions If you’re faced with a large tax bill, you’re likely looking at any option to help you cope with this debt. In your search, you may have come across the Canada Revenue Agency’s Taxpayer Relief Program. While this program could possibly help you deal…

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Have you Contributed to a Tax Shelter?

What is a Tax Shelter? According to the Canada Revenue Agency (CRA) a tax shelter, as defined by the Income Tax Act, is a property investment or gifting arrangement where “the buyer or donor will have losses, deductions, or credits equal to or greater than the net cost of the…

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Do I Qualify Under the Voluntary Disclosure Program?

What You Need to Know about the CRA Voluntary Disclosure Program The CRA’s Voluntary Disclosure Program is designed to give people a “second chance” to change a tax return that has been filed or to file a return that should have been completed and submitted earlier. The program gives people…

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Benefits and Possible Negatives of Filing Taxpayer Relief

What You Need to Know Before Filing Taxpayer Relief If you are having difficulty repaying your tax debt, you might be looking for help. You may have heard that the Canada Revenue Agency (CRA) has a program exactly for this situation: the Taxpayer Relief Program. However, before filing taxpayer relief,…

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Tips for Dealing with Tax Debt

How to Handle CRA Tax Debt Tax debt can be very difficult to deal with. Not only can a tax bill get very large, but the Canada Revenue Agency (CRA) has very broad and very strong powers that allow it to take steps to collect. If you do not pay…

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Tax Avoidance in Canada vs Tax Evasion

What’s the Difference Between Tax Avoidance and Tax Evasion? The Canada Revenue Agency (CRA) expects people to file their tax returns every year and to pay any tax debt that they owe. Failing to do so can get you into some serious trouble. When it comes to tax evasion and…

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Making Payment Plans for CRA Collections

Paying your Income Taxes through a Payment Plan There are many different reasons why someone could end up owing a lot of money to the Canada Revenue Agency (CRA). You might have forgotten to declare some income, you might have been unable to pay your taxes in previous years, or…

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