CRA wants $451,000 and have Prov court fine $ 385,000
I have a CRA re-assessment for $450,000 and Provincial court fine $385,000. I have a joint property with my wife with a clear title that is valued at $600,000. I would like to know if my equity of $300k (my spouse pays my portion) will be removed from the property and placed in trust with a lawyer to be directed to fine? Would this avenue stop a lien being placed since equity was removed? I have a pension of $6,000 clear per month in Alberta. My house and pension are the only assets I have.
There is a deal there. If you want to use a lawyer I suggest you use an insolvency lawyer.
There is also the opportunity of using a trustee in bankruptcy to file a proposal.
Please refer to the following: