You may want to take action by contacting the Canada Revenue Agency (CRA) if you cannot pay the full amount you owe. Ignoring your debt does not make it go away; in fact, waiting may make any financial or legal consequences more serious.

The CRA will work with you to resolve your debt. For example, if you cannot pay your individual tax debt in full now, you may qualify for a payment arrangement, or ask for taxpayer relief:

A payment arrangement is an agreement you make with the CRA. It allows you to make smaller payments over time until you have paid your entire debt, including applicable interest. Before you make a payment arrangement, you may need to show that you have tried to pay your debt in full by borrowing money or reducing your expenses.

Also, in some circumstances, you may be able to ask for relief from penalties and interest charges and reduce the overall amount you or your business owes.