Ot­tawa writes off bil­lions

Cape Breton Post - - CANADA - OT­TAWA

Newly re­leased records show the fed­eral rev­enue agency has writ­ten off at least $4 bil­lion in debts in the last two years — in­clud­ing ac­counts worth more than $10 mil­lion.

Debts were de­clared un­col­lectible be­cause those ow­ing had died, gone bank­rupt, could not be lo­cated or lived out­side Canada, ac­cord­ing to Canada Rev­enue Agency records ob­tained un­der the Ac­cess to In­for- ma­tion Act.

In other cases, of­fi­cials con­sid­ered it not worth the ex­pense to track down the money ow­ing or they reached a com­pro­mise set­tle­ment with the debtor.

The rev­enue agency says it makes ev­ery ef­fort to col­lect all tax debts from those who do not pay vol­un­tar­ily.

Mur­ray Rankin, the NDP’s deputy rev­enue critic, ques­tioned whether the gov­ern­ment is do­ing enough to col­lect the sub­stan­tial sums owed to the fed­eral trea­sury.

The heav­ily cen­sored rev­enue agency records in­di­cate that be­tween July and Oc­to­ber last year, there ap­peared to be at least two cases in which the write-offs were greater than $10 mil­lion apiece.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.