Is a spouse responsible for credit card debt in California?
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Is a spouse responsible for credit card debt in California?
If your spouse in California takes out a credit card and runs up a balance, you are not liable to the card issuer for the debt. The community property is liable for the debt, but you are not liable. During the marriage, property that a married couple acquires is presumed to be community property.
Can CRA go after spouse?
CRA can’t legally do that unless the debtor starts transferring assets to your client. Your client (who owes the money to CRA) cannot transfer assets to the new common-law spouse. It’s called a fraudulent conveyance of assets. Otherwise, CRA can’t go after the new common-law spouse’s assets.
What assets can CRA seize?
CRA can seize your assets, including your bank account, and garnishee wages and lien assets without a court order.
Are you responsible for your spouse’s debt in Canada?
In Canada, debts cannot be inherited and cannot be transferred upon the death of a spouse. It is also important to know that no-one is legally responsible for their spouse’s debts just because they are married. Your mother is only legally liable for your father’s debts if she co-signed the loan or guaranteed payment.
Can CRA look at your bank account?
6. Your income and pensions. The CRA is hunting for disparities in retirement income. It can access info on your bank account balances and income and match it with previous tax returns.
What triggers a CRA audit?
If your income is significantly less than those of others in your neighbourhood, you’re at risk of an audit. The CRA could initiate what’s known as a “net worth audit,” which can result in an arbitrary assessment that allows the taxman to use various tools to impute income to you.
How far back does CRA audit?
four years
Is My Service Canada Account the same as my CRA account?
Is “CRA My Account” the same as “My Service Canada Account”? These are different services from each of two Federal government agencies. CRA provides tax information. Service Canada deals with EI CPP OAS and other services.
