If you're transferring assets to avoid a tax debt, you probably aren't fooling the CRA
If you owe back taxes to the Canada Revenue Agency and hope to avoid paying up by simply transferring your assets to your spouse, partner or relative, be forewarned — the taxman can seek the funds directly from your relative.
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Jamie Golombek
Original Article Posted on: Sep 18, 2020
Link to Original Article: https://financialpost.com/personal-finance/taxes/if-youre-transferring-assets-to-avoid-a-tax-debt-you-probably-arent-fooling-the-cra