Amended tax returns pre-proposal
I filed a proposal a few years ago, and it’s not paid in full yet, I am still making monthly payments. I have a question about pre-proposal tax returns. I have received tax advice now about claiming certain items like tuition credits, moving expenses, employment expenses etc. My question is, can I file an amendment to pre-proposal tax returns? Will I be entitled to the refund produced based on a re-assessment now, but regarding the tax years pre-proposal? Will it affect my proposal amounts?
To answer your questions:
- Yes, you can file an amended pre-proposal tax return.
- Was Canada Revenue Agency one of the creditors in your proposal? If yes, then any resulting refund would applied by CRA against any pre-proposal income tax debt.
- This will not affect your proposal payments.