What's Mine is Yours - Including the Tax Bill


Section 160 of the Income Tax Act (Canada) is one of the most dangerous collection tools available to the Canada Revenue Agency.

If a taxpayer gives property to a family member at a time when he or she has a tax liability, the tax department collect from the recipient of the property.

The ability to collect from the recipient of the property does not depend upon an intention to avoid tax or even knowledge that there is a tax debt. In fact, the tax debt could arise subsequent to the transfer of the property as a result of a tax reassessment.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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