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A company declared bankruptcy in Nov 2009. The company did not file its T2 for its fiscal year ending Dec.31, 2008.

1. Is company obliged to file its 2008 and 2009 T2 returns?

2. Is director obliged to pay any corporate income tax that may be owing?

I understand that unpaid GST and employee deductions at source are the responsibility of directors of bankrupt companies. I`m not sure about the corporate income tax.

Posted from: Quebec

One Response to “President”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The company is obligated to file the two outstanding tax returns (2008 and 2009.

But the corporate tax, if any, does not survive on to the director. It is simply a debt that dies with the corporate entity.