Monday, June 13, 2005

Don't believe the Hype: CCRA Bad Debts

via Nealenews

"A debt to the Crown is never completely written off," Colette Gentes-Hawn said in an interview.

"It can always be brought back. . . . They're never really off the hook."

BS. Debts in every province have different uncollectible statuses...for instance, in BC because of the Marchand (sp?) decision, debts are completely off the record after 7 years if there is no recognition of the debt on the taxpayers part.

In the article it talks about the write off of A/R, which is fascinating in itself...over 2.5B in w/o's! The funny thing is that CCRA is probably one of the most bloated and under effective government agencies: debt is left on the books for years before even being looked at...They should really take a look at the provinces' example when considering their practices.

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