The Truth About Wage Garnishment & Frozen Bank Accounts

The Truth About Wage Garnishment & Frozen Bank Accounts

🎙️ Welcome to Episode 41 of The Real Estate and Money Show with Kevin J. Johnston! Today, we’re diving into one of the most misunderstood and sometimes shocking topics: wage garnishment and frozen bank accounts in Canada!💸 The Excise Tax Act (Section 317) gives the Canada Revenue Agency (CRA) broad power to freeze bank accounts and garnish wages for outstanding debts, including unpaid income taxes and GST/HST. But what exactly are your rights, and how can you protect yourself from these tough financial situations? Whether you're a small business owner or an individual taxpayer, knowing how this law operates can save you from unexpected financial stress.

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🔥 In this episode, Kevin breaks down the nitty-gritty of Section 317 of the Excise Tax Act, which empowers the CRA to take action on overdue debts. 🏛️ This means they can legally garnish a portion of your wages or freeze the funds in your bank account to collect taxes. But what does this process look like? Does the CRA have unlimited access to your money? Kevin explains how these rules apply, how much of your income the CRA can claim, and the steps you can take if this happens to you. 🛑 Don't let surprise deductions or frozen assets catch you off guard – find out what you need to know, and take back control of your finances!

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💼 If you’re feeling cornered or overwhelmed by tax issues, you’re not alone. Many Canadians are unaware of their rights regarding wage garnishment and frozen accounts.💰 Kevin shares insights into how you can negotiate or even avoid these drastic actions by working directly with the CRA or through financial consultants. He'll also discuss some critical steps you can take if you’re already in a tough spot. With Kevin’s guidance, this episode is all about empowering you with knowledge to face these financial challenges head-on and come out on top. 🌟

📢 BOOK YOUR CONSULTATION NOW: www.KevinJJohnston.com 📢

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