2025-09-12
To be or not to be — a director. That is the question.
Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.
Equity In Condo Income Tax Debt Solutions
2009-06-23
Hi, Kevin. It's pretty hard to answer your question without having more information. Your choices would depend on whether you have debts other than the taxes, what your income is, whether you have other assets, etc. The solution to your problem could lie in a sale of the condo, a bankruptcy (in which case the condo may have to be sold), a proposal to creditors to settle the debt for less than what's owing), an appeal of the tax assessment, an application to Canada Revenue Agency to reduce the taxes under a hardship (Fairness) application, keeping the condo and using the equity to settle the debts or other solutions. You should act soon - Canada Revenue Agency may register a charge against the Condo which is similar to a mortgage. I'll give you a call to discuss. Judy Scott Meyers Norris Penny Limited 604-949-2100 [email protected]
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Will Bankruptcy Erase All Of My Debt?
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