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    DaveGo2's Avatar
    DaveGo2 Posts: 5, Reputation: 2
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    #1

    Apr 24, 2008, 02:26 PM
    Ontario Income Tax Debt - SOL?
    Good evening to all,

    A quick question for the helpful experts here: Does the Ontario Statute of Limitations apply to Income Tax debt?

    Thanks in advance,

    Dave
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    Apr 24, 2008, 02:42 PM
    Hi davego2, I think revcan debt is absolved from statute of limitations as it is resolved from most anything and they are entirely sincere when they say they can take your OAS Canada Pension, etc. as they told me, until your tax debt paid is off. My husband has been there and done that and it isn't nice. If you think collection agencies are cut throat, they have nothing on revcan.

    If you owe CCRA and cannot pay the balance in full, you can explain your financial situation to CCRA and negotiate a payment plan. For example, if you owe $1,000, you may offer to pay $100 per month for the next ten months. Be aware that even if CCRA accepts your offer, you will continue to be charged penalties and interest until your debt is paid in full.

    If you are unable to successfully negotiate terms, CCRA may take further action against you to collect the taxes owing. They can withhold tax refunds and GST Credits, garnish your wages or accounts receivables, take funds from your bank account and/or place a lien on any real property you own until your debt is paid in full. They do not have to go through the Courts so they can act very quickly.
    DaveGo2's Avatar
    DaveGo2 Posts: 5, Reputation: 2
    New Member
    		  
    #3

    Apr 24, 2008, 04:19 PM
    Hi tickle... sigh... this is the best answer I wish I'd never received... :\... and I thank you so much for your quick and candid reply.

    Not sure what to pack for debtor's prison... I'll Google it and see what's what.

    Thanks again... I appreciate your time and I'm surely sorry for the strife you and your husband had to endure.

    All the best,

    Dave
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