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]
2025-06-19
With the school year beginning and thousands of Canadian students beginning a new semester of post-secondary studies, all those hard-earned dollars from summer gigs are now being applied to tuition, books, transportation, housing, and supplies.
2025-06-18
The cost of daily goods has been rising over the past few years — increasing the price of food, gas, clothing, and many other essential items that Canadians need in their day-to-day lives.
2025-06-16
Bankruptcy Alternatives to Bankruptcy
Let’s review what a Consumer Proposal is, as well as the pros and cons of filing a Proposal, to help you determine if it’s the right solution for your unique situation.
