Corporate income tax, GST/HST and payroll deductions debt collection
If your business can only make a partial payment, you must also make a payment arrangement to pay the balance of the business debt. A payment arrangement lets your business make payments over time until the entire debt, including interest, is fully paid.
To make a partial payment, go to Payment options. The CRA will apply the payment toward the oldest tax debt unless you request otherwise. The debt will gain interest until you pay the full balance.
Original Article Source Credits: CANADA , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-08-25
Link to Original Article: https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/when-you-money-collections-cra/corporate-debt.html