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Warning: Watch out for bad-debt tax schemes!

By  External Author |   | Posted in " Bookkeeping services, Personal tax return services, Professional Accountant, Tax consultant "

If a debt is owed to you (other than a debt under a mortgage or a debt resulting from a conditional sales agreement), and it remains unpaid after you have exhausted all means to collect it, it becomes a bad debt.

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Original Article Source Credits:  Canada ,  https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  September 29, 2020

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/watch-out-bad-debt-tax-schemes.html