Canada Revenue Agency’s (CRA) powers and your options to stop them

“You can’t fight City Hall.”

That’s what they say, isn’t it? And that counts double for the federal government for a lot of people. Canada Revenue Agency (CRA) has  long been viewed by Canadians as the ‘godfather’, that enormous, all-powerful entity embodying for many all that is bad in government.

Can I Settle My taxes Owing to CRA in a Consolidation?

Absolutely you can. About 58,000 people did just that in 2015 in Canada. Income tax arrears are eligible to settle with Canada Revenue Agency (CRA) as a consolidation solution (along with all other unsecured debts such as credit cards and lines of credit) in the form of a proposal. CRA are not only just a likely to reduce the principle (and ALL of the interest) as other creditors, but in most cases they are even MORE likely to participate, since this acts as a form of collection for them in their overworked portfolio.