Canada’s income tax debt worth billions of dollars
Posted May 11, 2014 8:55 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – A lot of Canadians seem to be putting their tax bill aside rather than paying up.
Cheryl Yeung with Canada Revenue Agency says for 2012 there is still a lot of money owed to the government in personal taxes.
“The outstanding income tax debt for all of Canada was $2.25 billion,” she says.
Yeung says BC and the Yukon make up 15 per cent of Canada’s bill, owing $341 million.
However, we are not the worst in the country for not paying up.
That title belongs to Ontario.
They make up 43 per cent of the country’s total bill.
Yeung says those avoiding parting with their money are charged a late-fee and compound daily interest.
