If you're transferring assets to avoid a tax debt, you probably aren't fooling the CRA

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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.

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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



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