The CRA has made its annual report to Parliament, and parts of it make for interesting reading. Essentially the report amounts to the CRA’s report card on itself.
The report discusses outstanding tax debts among other things. The report notes that “We have strategies in place to manage tax debt–which totalled $20 billion at the end of March 2007, an increase from the March 2006 balance of $18.5 billion.” Of this $20 billion of tax debt, $14 billion is “medium- to high-risk” debt, according to the report. The report then proceeds to summarize some steps that will be taken to reduce the outstanding debt.
Does this mean that CRA Collections is finally going to “get tough”? One hopes not. The collectors aren’t exactly pussycats right now, as some of our clients will attest.
