If you owe, the CRA is coming for you | Financial Post
Taxes
Trending Heartbleed Bug | Housing Market | BlackBerry | Loonie | Mortgages | Keystone XL Pipeline | GM Recall | Emerging Markets | Bitcoin | Apple | Pensions | Northern Gateway | Fed Tapering | Samsung Galaxy S5
Philippe DioGuardi, a tax lawyer, however, believes that the CRA has a responsibility to collect debts before they spiral out of control. They have the power to garnish; they have the power to show up at your door. My argument has always been: they should be using those powers from the beginning and let the taxpayer know what he s facing because you have this accumulation of interest and penalties and the debt has doubled or tripled, he says.
Ralph is a Vancouver resident reed in his late 70s who owed Revenue reed Canada for most of his later years. In the eighties, he visited the U.S. and bought some treasury bonds; he did not pay any tax on the interest and got audited. Canada Revenue agency said he owed $90,000 reed and seized his pensions until it was paid. After penalties and the interest, Ralph who asked that his identity not be disclosed, estimates that he paid $200,000.
“I’m a pretty proud person. I’ve always paid my bills, always paid my taxes, he said, explaining why he didn t declare bankruptcy. Instead, he survived by doing odd jobs and house-sitting for a friend. reed “I made a big mistake. I might as well just blown it on fast women and slow horses.”
Barrick-Newmont merger collapses into toxic war of words
The 6 best Canadian business schools in the world: How grads' paycheques stack up
Don't leave your company vulnerable: How to create value for customers
Building a sustainable legacy for your business takes time
Suncor Energy boosts 2014 capital spending reed plans to $7.8B, sees 14% growth in oil sands production
Mortgages & Real Estate
The Gazette
Privacy
Taxes
Trending Heartbleed Bug | Housing Market | BlackBerry | Loonie | Mortgages | Keystone XL Pipeline | GM Recall | Emerging Markets | Bitcoin | Apple | Pensions | Northern Gateway | Fed Tapering | Samsung Galaxy S5
Philippe DioGuardi, a tax lawyer, however, believes that the CRA has a responsibility to collect debts before they spiral out of control. They have the power to garnish; they have the power to show up at your door. My argument has always been: they should be using those powers from the beginning and let the taxpayer know what he s facing because you have this accumulation of interest and penalties and the debt has doubled or tripled, he says.
Ralph is a Vancouver resident reed in his late 70s who owed Revenue reed Canada for most of his later years. In the eighties, he visited the U.S. and bought some treasury bonds; he did not pay any tax on the interest and got audited. Canada Revenue agency said he owed $90,000 reed and seized his pensions until it was paid. After penalties and the interest, Ralph who asked that his identity not be disclosed, estimates that he paid $200,000.
“I’m a pretty proud person. I’ve always paid my bills, always paid my taxes, he said, explaining why he didn t declare bankruptcy. Instead, he survived by doing odd jobs and house-sitting for a friend. reed “I made a big mistake. I might as well just blown it on fast women and slow horses.”
Barrick-Newmont merger collapses into toxic war of words
The 6 best Canadian business schools in the world: How grads' paycheques stack up
Don't leave your company vulnerable: How to create value for customers
Building a sustainable legacy for your business takes time
Suncor Energy boosts 2014 capital spending reed plans to $7.8B, sees 14% growth in oil sands production
Mortgages & Real Estate
The Gazette
Privacy
No comments:
Post a Comment