OTTAWA, ONTARIO--(Marketwired - March 31, 2017) - If you cannot pay the full amount you owe now, you may qualify for a payment arrangement or ask for taxpayer relief. Take action by contacting the Canada Revenue Agency (CRA) right away. Ignoring your debt does not make it go away.
Find out your options if you can't pay in full now
The CRA can work with you to set up a payment arrangement in My Account or My Business Account. The sooner you take action, the less interest you'll have to pay. To make a payment arrangement for you or your business, go to Pay by pre-authorized debit or contact us.
What is a payment arrangement?
A payment arrangement with the CRA lets you make smaller payments over time, until you have paid your entire debt, including interest. To help the CRA determine your ability to pay, you may have to give details of your financial situation and proof of your income, expenses, assets, and liabilities.
Keep on track
Staying up to date with your tax obligations is an important part of managing your finances. If you are struggling to make your payments, the CRA can help you. For more information, see the CRA's collections webpage and its video series on Debt Collection at the CRA.
To receive updates on what is new at the Canada Revenue Agency, you can:
- follow the CRA on Twitter @CanRevAgency
- follow the CRA on LinkedIn
- subscribe to a CRA electronic mailing list
- add CRA RSS feeds to your feed reader
- watch CRA tax-related videos on YouTube