business

February 5th, 2013 by Questions

If you claim bankruptcy does your business name and number became invalid?

Posted from: Ontario

Questions

One Response to “business”



February 05, 2013 at 7:08 am, A licensed trustee said:

Yes – you need to register a “new” business the day after you file. That menas a new business number for CRA. as well as new HST and other tax accounts. The old name dies, but if you were a sole proprietor the easy fix is to change the new name slightly. For example, if the old business was Bob’s Garage, the new business might be called Bob’s Garage 2013.

Discuss this with your trustee BEFORE you file.

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