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| Author: |
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Fred |
| Date: |
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September 6, 2004 |
| Question: |
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If I have a tax liability and am in the process of declaring
bankrupcty, is there any recourse CCRA has to a third party ie: parents --
if I maintain a residence with them?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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September 6, 2004 |
| Answer: |
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If you own a residential property with someone else, such as your
parents, CRA could raise an assessment against them under Section 160 of
the Income Tax Act. This doesn't happen very often and only if CRA
believes the other owners have received a benefit related to your
non-payment of tax. I'd suggest you ask a tax lawyer or CRA about this
section of the tax Act.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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