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...

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....

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....

Can the CRA Help with Tax Debt?

Looking for CRA Help with your Tax Debt? If you’re struggling with tax debt, you’re likely looking for any option that is available to you. You may also be wondering if there are any CRA help options that can make it easier to repay the debt that you owe. Repaying tax...

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 your tax debt on time,...