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Bankruptcy Alberta

Archive for January, 2009

corp bankruptcy

I\’m the director of a small corp and CRA has now deemed it a personal service business ? They did a audit and want $120k in corp income tax and about $22k in GST what is the director\’s liability ? The biz has 1 employee and is my spouse very little other debt. ??? If the company closes what is the downside or liability to the director regarding the corp tax and GST

About filing

I have a condo that I can\’t pay its mortgage anymore. Should I stop paying the condo fees as well before and after I file for bankruptcy? And do the payments amount that I would have to pay to the trustee is revisable on a monthly basis depending on change in my salary, or is it determined at the begining of the filing and to be kept constant?

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