Posts Tagged ‘CRA’
Financial Deep Cleaning Series – Part 2
Deep cleaning your financial rooms can save you a lot of money, significantly reduce your monthly “burn rate” and significantly reduce your stress.
Read MoreBuying vs. Leasing a New Vehicle – Part Two – The Risks and Benefits of Leasing
Remember, leasing is like renting so there are usage limits. This isn’t actually your vehicle.
Read MoreDirector Obligations and How To Prevent Corporate Debts From Becoming Personal
Company debts can become personal debts. It is important to understand the links between the Company and directors (including guarantors of Company debts). These links need to be considered and managed when dealing with a Company insolvency. We have the experience to help.
Read MoreWhat is a Deemed Trust?
In a bankruptcy, amounts owing for GST/HST and the employer portion of CPP and EI, and penalties and interest on these amounts are unsecured claims, ranking the same as all other general creditors of a debtor. However, before bankruptcy occurs, CRA may obtain a lien or charge (be filing a memorial judgment) against the real or personal property of a debtor, CRA will be a secured creditor.
Read MoreWill Bankruptcy Take Care of Judgments?
Yes, judgments from creditors do get released when you file a personal bankruptcy or complete a consumer proposal. However, judgments registered against your assets by Canada Revenue Agency do not get released when you file a personal bankruptcy or complete a consumer proposal.
Read MoreIs Bankruptcy My Only Option?
Bankruptcy is not the only debt solution option available to resolve overwhelming debt. Your Trustee (Licensed Insolvency Trustee) can also put together a consumer proposal to your creditors. Where you pay a portion of the debt, you owe your creditors, and the creditors write off the remaining balance of the debt.
Read MoreTips for Saving Money on Groceries
For most Canadian families groceries are there second highest monthly expense outside of their housing cost so it’s important to get the most bang for your buck. Here are a few tips and suggestions that may help you reduce your grocery expenses.
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