Income Tax and HST Debts

Mclennan and Company Default Feature Image

22 Jun Income Tax and HST Debts

There is a common misconception that income tax debts do Not get written off in a Consumer Proposal (i.e., a ‘legal’ debt settlement or consolidation). In fact, they ARE WRITTEN OFF, as they are considered an unsecured debt, as is HST owing for self-employed individuals. Of course, the same is true in a Bankruptcy as well; however, it is always better to deal with the tax debt in a Consumer Proposal whenever possible.