if my biusiness goes bankrupt and We owe the Back GST and Employee premiuns to the federal govt. will it affect us personally/
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
if my biusiness goes bankrupt and We owe the Back GST and Employee premiuns to the federal govt. will it affect us personally/
As a director you will still be responsible for both the back GST and employee premiums that are owed to the federal government (payroll remittances). This is irrespective of whether or not the company files for bankruptcy. As a result in many situations we find there is no value to placing the company into bankruptcy as if you have significant amounts that survive bankruptcy there may be no benefit so you may be just as far ahead to cease operations.